Financial Markets awaiting Fed Chairman (Janet Yellen) speech today which are monitoring by economist and traders to claim clues over the future of USD Interest Rate and when to rise this rate after the last hike last December 2015
Market will listen to Janet Yellen’s speech while holding in mind the last remarks of Mr. Stanley Fischer ( Fed Vice Chairman) where he said :
“Fed is closing from employment & Inflation targets”
“Inflation Rate (except food & energy) within healing distance” meaning the Core CPI
Such remarks and despite that Mr. Fischer did not mention interest rates, but the remarks are likely to fuel debate about when they may rise.
And so, Ms Yellen is also expected to sound a positive note. Economists said it was unlikely that Mr Fischer would want to say anything that could be contradicted on Friday… according to Bloomberg
And so, if Yellen came with optimistic mode this may spur demand for US Dollar for the coming short period
The other view would be if market dump Dollar for any other reasons which we will track and monitor throw our Technical Reports (to see last report click here)