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Markets await further comments from Federal Reserve chair Janet Yellen as she appears in front of the House Financial Services Committee following her first round appearance yesterday, which prompted a rally in the US stocks and the greenback.
Asian markets tracked Wall Street gains following Yellen’s comments, which were viewed as more hawkish than expected. Japan’s Topix index is up 1 per cent with Australia’s S&P 200 closing up 1 per cent. In Hong Kong, the Hang Seng index is up 1.4 per cent, while the Shanghai Composite index is up 0.3 per cent.
Futures tip London’s FTSE100 to open up 0.4 per cent, while the S&P 500 is expected to open up 0.1 per cent.
Corporate earnings reports out today include Actelion and ICAP.
The economic calendar for Wednesday is light, but not without a few big-ticket items (all times London):
- 08.00: Spain consumer inflation
- 08.30: Sweden interest rates decision
- 09.30: UK unemployment rate
- 10.00: Eurozone trade balance
- 10.00: Greece consumer inflation
- 10.30: OECD annual report on Italy