All Eyes on Yellen Testimony

Traders awaits Yellen’s Remarks

U.S investors turned in a mixed trading session on Tuesday. Federal Reserve Chairwoman Janet Yellen will begin her testimony in Washington before Congress today regarding monetary policy. The U.S Dollar will certainly see a test of its range over the next two days. The Fed Chairwoman will certainly be asked about her interest rate outlook. The Dow Jones Industrials and NASDAQ both gained yesterday, while the S&P traded lower.

Yen Strengthen vs US Dollar

The Hang Seng Index from Hong Kong has continued to demonstrate its bullish tendency this morning. However, the Nikkei and Topix Indexes from Japan have proven cautious. The Yen strengthen against the U.S Dollar and is traded below the 114.00 level. Producer Price Index figures from Japan today matched their expectations.

Important Jobs Data from U.K.

Important jobs data will come from the U.K today. The Pound has been weaker against the U.S Dollar in recent trading. The 1.28 level between the Pound and U.S Dollar is coming into focus. Political problems in the U.K continue to hamper Prime Minister Theresa May and questions regarding her ability to manage the Brexit are causing concerns among investors.

Gold and Crude Oil Gain on Speculation

Gold and Crude Oil found have found buyers. Gold is near the 1218.00 U.S Dollars an ounce level and Crude Oil is above 45.00 U.S Dollars a barrel. After suffering from strong headwinds the past week, speculators have shown risk appetite.

Yaron Mazor is a senior analyst at SuperTraderTV.

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