The day after the mid-term elections are tallied and announced, Ben Bernanke will present himself to the American public and let them know how much more greenbacks will be printed to inject in our economy.
The currency war is definitely on his mind during this decision making process. If he prints too much, we could make some countries of the world extremely unhappy with America. This would take the global economy in a different direction as currency manipulation would be center stage, and metals would fly to the moon.
Staying moderate would at least show a little bit of confidence in the American economy and could cause a dollar rally, especially after the way Ireland and Greece behaved today during trading hours. Keep an eye on your metal positions and have your brokers number handy.
We will be posting an update as to the amount decided on tomorrow as soon as it is official.
Don’t forget to watch the Bank Of England on Nov. 4th, as that is their date for QE announcement.