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Fed President Janet Yellen said in a speech at the University of Michigan yesterday that the US economy is close to the Fed's goals. If we leave aside the recently announced NFP data in the US, the unemployment rate, which dropped to 4.5 %, is below the level of full employment targeted by the bank. On the other hand, the rise in inflation and the improvement in growth figures support the bank's gradual interest rate increase. We can say Yellen emphasized the importance of independency of Fed. According to the economy specialists, this speech supported the positive atmosphere on American economy at the last times. 

When we look at the economic calendar of today, there are some important data relased in the UK. However, inflation data to be released in the UK could lead to an increase in volatility in Sterling. Expectations may support a gain in the sterling by strengthening the Bank of England interest rate expectation. In Europe, the results of the ZEW Expectations Survey may be influential in the euro and European stock markets.

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