Although Ben Bernanke’s dovish tone, in his testimony before the Senate Banking Committee yesterday, signaled that a fresh round of QE remains in the offing, risk sentiment failed to receive a boost on account of the Chairman’s reluctance to explicitly outline the roadmap for the stimulus steps. With the lurking possibility of the central bank embracing stimulus measures, cues from today’s housing data and beige book survey will be closely eyed.
Back home, claimant count growth slowed marginally for June and BoE minutes indicate that policymakers voted 7-2 to raise the asset purchase target. In Europe, markets remain focused on news flow about Germany’s vote on Spanish bank recapitalisation plan tomorrow.
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