Asian Markets are expected to open lower

Asian markets are expected to open lower, after the selloff on Friday. The futures of the US indices opened lower today. The ASX 200 futures point to lower open, Nikkei is with higher open for now but this is after the selloff on Friday of 1.18%. The US indices closed lower on Friday as well and we are expecting this negative sentiment to continue.

The markets were lower after the speech from Janet Yellen, as she mentioned that the case for higher rates in coming closer, but without an indication of time frame. The rhetoric continued to be in the lines of that the decision for the rates is data dependent and the risks for the economy from internal and external markets shocks. The inflation is gaining traction but the aim of 2% is still far away.

The US dollar gained after the speech. The price of Oil was unchanged, even with lower indices. It is expected that the price of Oil to be higher as the speculations of the decision for limits on production can be reached by OPEC on the upcoming meeting in September. If that happen this will support the indices. Oil trading at $47.12 per barrel. USD/JPY jumped to 102.

The shares of the Japan's big exporters Sony, Nissan and Toyota fell.