Housing price index to be released
The Housing Price Index will be released at 10am EST today by the Office of Federal Reserve Housing Enterprise Oversight. The index provides an estimated value of housing market conditions. It is an important indicator as the housing market is considered as a sensitive factor to the US economy.
Ben Bernanke to speak a second day on monetary policy
The fed Governor Ben Bernanke will today at 10am EST deliver semi-annual monetary policy testimony to House Financial Services Committee in Washington for the second day. The Fed Chairman will comment on how the Fed observes the current U.S. economy and the value of dollar. Bernanke's comments may influence the volatility of the currency and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative or bearish for the Dollar.
Deadline for Thomson debt restructuring plans
French technology group Thomson must meet a deadline to finalize its debt restructuring plans or face bankruptcy. The debt-swamped French media services group, on Tuesday said the sale of its Grass Valley subsidiary would be finalized by the end of 2009, as part of a drastic cost-cutting plan to save the company from bankruptcy.