Federal Reserve speakers have minimal effect on the market

Tuesday was another quiet day for data releases from the US, with very minimal out. The main focus was on the speeches by US Federal Reserve members Dudley and Powell, as well as Federal Chair Yellen – yet all three failed to give any idea on a possible interest rate rise this year.

With a similar day expected today with minimal data releases, we expect to see investor attention turn elsewhere until Thursday when weekly unemployment change and the existing home sales data are released; these are expected to remain stable and grow respectively.