Investors Are Expecting a Press Conference of the Fed's Head

Yesterday, the US dollar sharply weakened against the euro and the Japanese yen. Participants of the financial markets are concerned about today's speech by Fed's Chairman Yellen. If in her comments the head of the Central Bank does not confirm the need for a gradual surrender of the adaptation policy, the US dollar may fall sharply relative to the basket of world currencies.

Investors also expect the publication of a report on the labor market in the UK and the meeting of the Bank of Canada. It should be recalled that the latest statistics from Britain was quite weak. At the moment, experts expect a decrease in the main figures of the labor market. Participants of the financial markets believe that the Central Bank of Canada will raise the key interest rate by 25 basis points to 0.75%. At the same time, it is necessary to pay attention to the comments and statements of the Bank of Canada representatives.

At the moment, purchases are prevailing in the "black gold" market. Futures for the WTI crude oil are being traded near $46.00 per barrel. The American Petroleum Institute (API) reported a significant reduction in the crude oil inventories.

Market Indicators

Yesterday, the major US stock indices showed mixed results: #SPY (-0.07%), #QQQ (+0.28%).

The 10-year US government bonds yield has begun to decline. At the moment the indicator is at the level of 2.35%.

The dollar index (#DX) closed the trading session in the negative zone (-0.30%).

The news background on 2017.07.12:

• – A report on the labor market in the UK – 11:30 (GMT+3:00);
• – Speech by Fed's Chairman Yellen – 17:00 (GMT+3:00);
• – The Bank of Canada meeting – 17:00 (GMT+3:00);
• – The Crude Oil Inventories in the US – 17:30 (GMT+3:00);
• – The Fed's Beige Book – 21:00 (GMT+3:00).

by JMarkets, 2017.07.12

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.