The USA markets will start with a slight increase

The start of the US markets is going to be slighlty positive after the European indecies are trading with no big change. The investors are expecting the start of the corporate reports for the second quarter, the first being bank stocks. Wells Fargo and JPMorgan Chase report their financial statements tomorrow.

Janet Yellen is to speak and anwser questions infront of the congress for second day and the expected reactions are the same as yesterday.The euro fell after a comment from a ECB member that the stimuls program may be effective for another couple of years. The dollar may continue to be the worst performing currency. The canadian dollar is performing better against most of its pears after the BoC raised its interest rates to 0.75%.

The last data from the USA for PPI and initial jobless claims were mixed.

The oil price is going up during the European trading session and probably will support the indices and yen.

For now, the market reaction is positive after the Fed Director's statement, indicating that it is very likely that we will see an increase in interest rates next year, and the likelihood of another increase in 2017 is growing. This was positive for the indices and risk  sentiment seized the markets with risky currencies such as AUD and NZD.

The forecast is for a positive session but probably without any big moves because the ivnestors are expecting the start of the corporative reports so they can get a clear view and what to expect.

Trader - S. Fuchedzhiev

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