U.S. Markets Turn Positive on Fed’s Outlook for Rates

Federal Reserve Chairwoman Yellen is set to speak again in Washington today and investors will be watching from around the globe. The Euro has remained under pressure against the U.S Dollar. Gold has picked up slight ground the past couple of trading sessions. Wall Street is being called to open higher via the Futures Markets.

U.S. Stocks Expected to Open Higher

Federal Reserve Chairwoman Janet Yellen will testify in Washington again today. Yesterday, Yellen spoke in front of the House of Representatives, today she will face the Senate. The Fed’s outlook regarding interest rates remains steadfast. Yellen suggested yesterday one more hike this year is in the cards because growth and employment are on target, but inflation data remains weak. U.S equities are expected to open higher today based on the calls from the Future Markets. Investors will also get weekly Unemployment Claims numbers today, but their focus will stay on the Federal Reserve Chairwoman. Tomorrow Retail Sales figures will come from the States.

China Trade Balance Positive

Trade Balance numbers from China were positive today. And the Shanghai Shenzhen composite turned in strong gains along with the Hang Seng Index. However, the Nikkei and Topix equity exchanges finished with cautious results, this occurred as the Yen gained strength against the U.S Dollar in a significant fashion and now finds itself around the 113.00 level. Japan will release an Industrial Production report early on Friday.

European Equities Gaining

European equities have opened with gains this morning following in the footsteps of their American counterparts. The FTSE 100 however while putting in some gains, continues to display tentative trading and it is down around 1 percent the past month. Consumer Price Index reading from Germany and France met expectations this morning, and Trade Balance figures will be published for the European Union tomorrow. The Euro has been under early pressure against the U.S Dollar and is near the 1.14 mark.

Gold Puts in Slight Gains Early

Gold has continued to gain slightly in early trading today. The precious metal has been able to climb from last week’s lows. Dovish interest rate comments from Fed Chairwoman Janet Yellen helped Gold yesterday, but Yellen is speaking again today – which means the precious metal could see fast conditions again today if there are any surprise comments in Washington.

Yaron Mazor is a senior analyst at SuperTraderTV.

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