This week's primary influencing factor on trading was Friday's address by Federal Reserve Chairman Ben Bernanke at the annual Jackson Hole Economic Policy Symposium hosted by the Federal Reserve Bank of Kansas City in Wyoming.

Whereas last week markets were buoyed by quantitative easing (QE) prospects following the Federal Open Market Committee's (FOMC) minutes and the potential for a heads up from Bernanke's speech, this week's markets were less sure especially with a slightly better-than-expected 2Q12 GDP revision, while the Beige Book provided no strong guidance on QE prospects with details providing a case as much for it as against.

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