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US: Yellen back in focus along with key economic releases - TDS

FXStreet (Delhi) – Research Team at TDS, suggests that the US Fed Chair Yellen will make her second public appearance in as many days alongside some key economic data releases.

Key Quotes

“This time she will appear before the Congressional Joint Economic Council, where she will discuss the economic outlook. TD expects her to strike many of the themes she highlighted today. Fed Vice Chair Fischer and Cleveland Fed President Mester will also be making public appearances. They will both be speaking on financial stability.”

“The economic data calendar will be quite busy, with the latest reading on jobless claims, factory orders and final print of the October durable goods orders on the docket. The November ISM non-manufacturing sector report will also be released. TD’s expectation is for the pace of claims to rise marginally to 266K from 260K. The market consensus is for a 270K print. And for the ISM non-manufacturing sector report, TD expects the headline index to drift lower to 57.2 from 59.1, as this indicator becomes more closely aligned with the “modest” pace of growth in the economy. The market expectation is for a more modest drop to 58.0.”

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