Yesterday the Fed said it would buy $45 billion of Treasury securities a month from January to support the U.S. economy in addition to existing monthly purchases of $40 billion of mortgage debt.
According to U.S. Labor Department, applications of jobless benefits fell by 29,000 to 343,000 in the week ended December 8, the fewest since reaching a four-year low in the period ended October 6. Economists forecast 369,000 claims. To help encourage more hiring, the Fed said yesterday that it intends to keep policy accommodative until unemployment rate falls to 6.5%. Currently it is 7.7%.
The euro has a short-term uptrend, which will hold at least until 1.30. The pound showed no substantial changes. It maintains an upward bias in the 4 hour chart, while first support is at 1.6105 and 1.62, maximum bullish targets.
The yen is falling faster now, with the Tankan report, the clearest reflection of the Japanese economy. The other major currencies are unchanged now maintaining very moderate short-term bullish trends.
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