When we look at the international economic outlook, global markets are waiting for Janet Yellen's speech today. We begin a day when the economic data calendar is so busy, while the data released yesterday in the US show that the employment market is maintaining its strength. The first significant development of the day was the inflation report released in Japan. In the report, Consumer Price Index increased by 0.4 % compared to the same period of the previous year. When we look at the European side, Finalized PMI data to be released for February. This data may play an important role on today's market direction in Europe.
The most important developments of the day are on the US side. While the Fed's expectation that it could raise interest rates in March is highly likely to be priced in futures markets, the speech of Fed President Janet Yellen is very important today. The general expectation by the professional forex brokers is; Yellen will avoid the clarity due to ongoing uncertainties, but will emphasize the necessity of 'interest rate increase' in the recent history. The ISM non-manufacturing sector index to be announced for February is expected to remain unchanged at 56.5 points.
- Date: 03 March 2017 Fri 08:01
- Last Added
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