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Report of the Institute of Supply Management ( ISM ) said yesterday , the U.S. non-manufacturing PMI for the month of 12/2013 dropped from 53.9 to 53.0 points , lower than the 54.6 median forecast of the analysts analysis . This is the 48th consecutive month the index stood above 50 points indicates the U.S. service sector continues to expand but the growth rate has slowed . Economic data has just announced that the Fed will have to consider before deciding whether to continue cutting program of quantitative easing at its meeting later this month . |
Dollar fell against most major currencies as U.S. data low service expectations . Trend of the greenback this week depends on the Fed meeting minutes released tomorrow and employment data in the 6th .
With a ratio of 56 votes in favor and 26 votes against , Janet Yellen recently received approval from the U.S. Senate to become the 15th Chairman of the Federal Reserve and the first female chairman of the 100 -year history of the central bank this . Her 4-year term Yellen will begin on 01 / 02 after the second term of Chairman Ben Bernanke ends on 31 / 01 .
World gold prices volatile session
Closed session last night at the New York World gold prices nearly unchanged compared to the previous trading session . However, in a sudden turn gold price fell from $ 1.246 30 USD / ounce to $ 1.216 / ounce in a very short time before and bounced back to close at $ 1.238 / ounce .
Gold prices are being supported by the weakening of the global stock markets and the demand increases for physical gold in China ahead of the Lunar New Year . However, analysts said that gold prices will rise higher still need to have the impact factor more decisive , because the gold price outlook in 2014 is still being assessed with a pessimistic view .
On 6/1 , Janet Yellen was the U.S. Senate ratified officially become the next chairman of the Federal Reserve Ben Bernanke instead , the term will end at the end of this month . Ms. Yellen who is maintaining perspective easing to support growth - factors favor gold . However, the appointment of Ms. Yellen is not a surprise factor for the market .
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