Ben S. Bernanke, a chairman of Federal Reserve announced further course of the US monetary policy at the International Monetary Conference held in Atlanta, Georgia on 7 June. He told that the Federal Open Market Committee decided to complete its purchases of $600 billion of Treasury securities by the end of June and will keep low levels for the federal funds rate for an extended period as economic recovery in the US is proceeding in the moderate pace. However, financial strategies those have been designed for the Federal Reserve’s extended QE programme were realized successfully as well.
The US dollar declined against the major peer currencies on 8 June, the price of WTI Crude Oil jumped more than $3 from $98.15 to $101.65 over four hours, Brent Crude Oil raised more than $2 from $116.00 to $118.40 at the same time due to the disagreement between the members of OPEC regarding the oil production. The 159th Meeting of the OPEC held in Vienna, Austria, on 8 June was closed with no formal decision according to mismatched official data about oil demand and supply that triggered instability in the international oil markets.
The 160th Meeting of the OPEC will take place in Vienna, Austria on 14 December 2011; however, if nobody consider about the clear methodology and improved data management the circumstances to predict market trends remain the same - two plus two is not equal to four and clearly identified square tends to be a circle.
