Things are mostly pretty tight as everyone gets set for Yellen tonight

Here's a quick market rundown;

  • USDJPY is sitting tight around 121.75/90
  • USDCAD is just off the highs after being spat out another oil well
  • US stocks have eased off the highs but remain in the green
  • US bonds have seen some selling. 2's get you 0.9944% +3bp, 5's 1.74% +4bp, 10's 2.30% +3bp, 30's 3.01% +3bp
  • Gold is sitting up near the highs at 1075 after an earlier jump from the mid 1060's
  • Oil is still reeling from the inventory data and is sitting around 20 pips from the 35.60 low in WTI

With Europe and the UK closing up shop we're going to go into that phase where liquidity starts drying up. I suspect there will still be plenty of traders manning desks, particularly in London to watch the show

This is the time we could start to see some choppy moves so be aware

Yellen has the weight of the market on her shoulders right now. Will she be able to hold them up?


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