Article Highlights

  • Australia posts 3.4% jump in HPI, 1.9% decline in home loans
  • Text of Yellen’s prepared speech to be released early on Fed website
  • Asian equities lifted by stronger risk appetite
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Risk appetite popped its head back in the markets in today’s Asian trading session, breathing life to the equity markets of Korea, China, and Singapore. However, the Nikkei was unable to join the party since Japanese stock markets are closed in commemoration of National Foundation Day.

EUR/USD continued to climb slowly above the 1.3650 level while AUD/USD soared past the .9000 mark, as though unfazed by the temporary shutdown of the Australian Stock Exchange. Apparently, trading was halted because of a technical glitch that prevented accurate market data from being displayed.

There are no major reports up for release from the euro zone or the U.K. in today’s London trading session so we might see either a bit of consolidation or pricing in ahead of Yellen’s first testimony in front of Congress. Take note though that the text of her prepared speech will be posted on the Fed’s official website an hour an a half before her actual testimony so expect volatility to pick up around that time.

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U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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