UFXMarkets -Daily Gold & Forex Trading News-16-February-2012For more Forex news & info, please visit http://ufx.co/UFXM-youtube... The US Dollar strengthened versus most major currencies on a statement from the Fed Chairman, Bernanke, who said earlier at the FOMC that there is no need for a QE3 at the moment. The TIC Long-Term Purchases came out at 17.9B worse than the expected 62.3B and Industrial Production (MoM) came out 0.0% worse than expected at 0.7%. The stock market closed negative as the Dow Jones fell by 0.76% and the NASDAQ fell by 0.55%. Crude oil rose by 1.10% after crude oil inventories came out less than expected on false news about Iran halting the supply of crude oil to six European countries. Later, however, the Iranian government published a notice denying this was true. At the end of the day crude oil closed at $101.80 a barrel. Gold (XAU) rose by 0.4%, or $10.40, after 4 days of decline and closed at $1728.1 an ounce. Today, the Housing Starts are expected to come out at 0.68M vs. 0.66M previously and initial jobless claims are expected to come out at 3550K vs. 3515k previously. The Fed Chairman, Bernanke, will speak.
