Nervousness

It was what we saw yesterday in the equity markets in the United States. The major indices, after moving with a positive tone during the session, closed almost unchanged. The statements of the members of the FOMC in recent days have attracted much attention to the publication, tomorrow afternoon, the act of the last meeting and the appearance of the Fed's chairman, Ben Bernanke.

The session took place in the Asia-Pacific region with a very similar behaviour to what we saw yesterday in the United States. The market, in high overbought, started a bit scared by some negative rumors about the quantitative expansion of the Central Banks. In Japan last night we knew the industrial activity data of the last month, which was in line with expectations at -0.3%. The Nikkei ended the session with a timid advance of +0.13%. Today's session begins in the old continent with slight cuts in equity indices.

For today, it's important to remain vigilant to the publication of the CPI data from the past month in the UK (and inter-month rates), that are expected to remain almost unchanged with a tendency to decrease (this data Battery may bring volatility to the pound against other pairs). In the United States, today there will not be any published data of particular relevance to the markets.

It seems that, in a strongly bullish scenario, we could see slight corrections in the stock markets, in anticipation to Bernanke's statements tomorrow, which could stop the upward trend.