Sentiment Weakened by ECB's Dovish Statement and Bernanke's Speech

Risk aversion came back yesterday as ECB delivered a dovish statement after the September meeting and Fed Chairman's speech offered nothing new in stimulating the economy. Macroeconomic data remained weak. Gold rebounded strongly after 2 days' selloff with the benchmark contract soaring to as high s 1873.3 before settling at 1857.5, up +0.85%. Oil prices slipped with the front-month WTI contract losing -0.32% and the equivalent Brent crude contract down -1.08%. The 447B plan offered by US President Barack Obama after the market close may help relieve the market in the short-term.

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Sentiment Weakened by ECB's Dovish Statement and Bernanke's Speech