FX.co ★ Fundamental Analysis, November, 03/ 2011

European Union decided to postpone the help for Greece, which this time consisted of a section of the plan signed months ago, of 8 billion euros. A logical reaction to the Greek government's decision to consult on a popular approval or not the package signed last week.

However, a statement from the Fed that is slowly changing his views on the future of the U.S. economy gave some optimism to the markets.

The chairman of the Federal Reserve System, Ben Bernanke said the central bank may take more stimulus measures, including consideration of the third round of quantitative easing of monetary policy. Despite the acceleration of growth in the third quarter of the year, there are still "significant risks" for the economy and unemployment is still "too high" Bernanke said. The Federal Open Market Committee left the target federal funds rate unchanged at the upper boundary at the level of 0.25%, and also revised downward its economic growth forecast for next year. The forecast for the unemployment rate at the end of 2012, by contrast, was increased to 8.5% -8.7%, compared with previous estimates of 7.8% -8.2%.

On the other hand, Bernanke added that "we continue to expect a recovery in economic activity and labor market, although it is likely that this process is very slow."

Today will be published the following non-manufacturing index value calculated by the Institute for Supply Management. According to preliminary estimates, the index, which reflects the activity in the area of services, could reach 53.5 in October from 53 in September.