The Fed meeting is the main event today the global markets are waiting for the report of Ben Bernanke. Which will be announced today at 8:00 PM GMT? We are watching a stop in the US stock market or a low trading level.
The precious market starts to rise slightly, by the beginning of the US. trading in which investors tends to buy gold aiming a short covering after the Fed announcement. We are watching a low trading level not as usual in the yellow metal market. Gold records a rise by 0.22% to hack over the level of $1370 USD/ Ounce.
The crude oil recorded a rise before the Fed, because of expected to encourage for the manufacturing sector in USA. This expectation is supported by the high labor data from USA in the previous weeks. Most of the jobs was away from the Agriculture sector, so it is expected to watch an encouraging in the manufacturing sector, to improve the US data aiming the end of the Assets buying program soon.