A Key Speech From Janet Yellen Has Investors Paying Attention

A Key Speech From Janet Yellen Has Investors Paying Attention

The U.S. Supreme Court on Monday handed a victory to President Donald Trump by reviving parts of a travel ban on people from six Muslim-majority countries that he said is needed for national security but that opponents decry as discriminatory.

"A weaker rand, along with stronger commodity prices, boosts our resources such as gold and we're seeing a rally in those", said BP Bernstein trader Vasili Girasis.

Fed Chair Janet Yellen addresses the British Academy in London at 5pm GMT, after a speech by Philadelphia Fed President Patrick Harker in the USA city at 3.15pm GMT Before that, the dollar slipped 0.6% against major currencies, hitting a nine month low versus the euro after the European Central Bank President said he might begin to reduce the Bank's emergency economic stimulus.

Among other precious metals, platinum inched up 0.4% to $921.45, while palladium was little changed at $864.05 an ounce.

S&P 500 futures fell by 1.50 points, or 0.1%, to 2,434.50, while Dow Jones Industrial Average futures shed 13 points, or 0.1%, to 21,355.00.

The New Zealand dollar was little changed, having gained overnight following weak USA data, as investors continue to weigh the pace of growth in the world's biggest economy and await a speech from Federal Reserve chair Janet Yellen.

Draghi reiterated his views at an European Central Bank conference in Portugal but also highlighted the continued recovery in the euro zone.

Met Office issue yellow weather warning of rain for parts of Notts
This will be heavy and persistent in places with widely 20 mm falling and 40-60 mm possible in the most exposed spots. The weather warning is in force from 16:00 today until 09:00 tomorrow morning.

Meanwhile, the Bank of England will release its Financial Stability Report, giving more insight into its views on the current economic and financial situation in the United Kingdom.

The U.S.is to publish a report on consumer confidence.

Amid a clear lack of consensus among senior Fed officials, Yellen's comments "may prove even more important for Fed watchers in terms of expectations for near-term rate hikes", said Lindsey Piegza, chief economist at Stifel Nicolaus & Co.

Japanese stocks closed in on two-year highs early on Tuesday thanks to a weaker yen while the euro sagged against its peers after European Central Bank President Mario Draghi talked up benefits of the ECB's easy monetary policy.

The U.S.is to release figures on pending home sales.

The U.K.is to publish current account data as well as revised figures on first-quarter growth.

Following the data, analysts at Capital Economics said the apparent easing in momentum was most likely the result of "residual seasonality".

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