USD enjoys another smalls better opening
In a continuation of Friday’s strength on the better US employment report,, Yellen’s upbeat interview last night of which a view headlines below and also helped vs EURO as German coalition talks breached today’s deadline on unresolved issues.
The US memo affair doesn’t seem to move the Forex crowds as of yet.
We open CBA servicesPMI already out at 53.8 from 55.1, composite 54.2 from 55.5 . We’re also expecting Australia’s Inflation jauge at 0:00 got and NZD’s commodity price index at the same time.The week will go in crescendo as RBA tomorrow and RNZ on Thursday( Wednesday evening fo rus Europeans).
Tomorrow sees a slew of PMI’s on both sides of the Atlantic come out to keep us busy no doubt.
The Yellen lines: Outgoing Fed Chair Yellen: Asset valuations are generally elevated, but don’t want to call what we are seeing a bubble – PBS interview
– Made it clear I was ready to serve a second term, disappointed I was not reappointed Fed Chair
– Feel great about the economy, things are looking very strong
– In this tight labor market expect to see pace of wage growth edging up
– US financial system is resilient enough to absorb a new shock; banking system is stronger and better capitalized than prior to the financial crisis
– Process of gradual rate hikes is likely to continue
Bear in mind it’s still very early and illiquid, prices can evolve rapidly