On Tuesday, stocks and indices in Asia rose rapidly: investors are waiting for Yellen’s clues on the future monetary policy of the Fed. Australian stocks fell in price, while Korean and Japanese stocks went up.
The most extensive index of the Asia-Pacific region MSCI rose by several points at the beginning of trading, while the Nikkei rose by 0.1%. The US dollar index is trading at 0.1% higher at around 96,095.
The New Zealand dollar fell in price and traded with negative dynamics after the indicators of the report on public spending disappointed the expectations of the markets.
In the US, this week is marked by a season of reports: the main US companies will report on the profitability of their shares, which causes the undivided interest of investors. Another key event will be Janet Yellen’s speech on Wednesday, where she will comment on the Monetary Policy Report of the Fed. The US dollar against the Japanese yen increased by 0.2% and is trading at 114.20, which brings the pair closer to the 2-month high at 114.32. The euro fell at the beginning of trading and reached the level of 1.1395. The Canadian dollar against the US dollar traded on small volumes, as investors in Canada are waiting for the interest rate of the central bank, which is
scheduled for Wednesday. Analysts did not agree on what the future policy of the Bank of Canada will be: some of them are sure that at this stage, the rate increase is already fully incorporated in market prices.
In the commodity market, oil is skyrocketing, despite the fact that the US does not show signs of a decline in production, and extraction of raw materials in Libya and Nigeria remains questionable. Oil futures rose 0.4% to $ 44.55 a barrel. Brent crude is trading 0.3% higher at $ 47.03. Today, the volume of industrial production in Italy will be released. This report measures the change in the total production of plants, mines, and utilities. At 13:30 GMT, the index of the leading macroeconomic indicators CB (m / m) in the UK will be released, which reflects the change in the composite index based on 7 main economic indicators. If the actual indicator of the report exceeds the expected, it will positively affect the pound sterling.