Almost two thirds of economists in Bloomberg survey predict that tomorrow FED will formally announce the QE3. But I think it will announce nothing. There is no need of QE right now. The government will need extra money at the end of the year so then is logical to start the QE. At the moment Bernanke is just preparing the environment for QE using comments of himself and other FED members, and also - much rumors.
My prognosis is tomorrow the dollar will strengthen as a correction of expectations based bearish trend of last days. Investors have already calculated the QE3 and some disappointment will kick the US currency up. Gold will fall to $1700 in a week or two weeks time and that will be a good moment to buy.
I expect also some disappointment from Apples's new iPhone
5. So much expectations were invested in this product so unless Apple shows an artificial
intellect or holograms, its shares will go on a correction down.
Sept 12th 2012