by JustForex
An interesting event for the market this week won’t be just the meeting of central banks, but also Jannet Yellen’s return to the management of the US economy. The former Fed chairman, with whom the American economy was able to get out of the crisis at the beginning of the last decade, will speak in the Senate today. Investors expect her statements to address monetary policy, and support for President-elect Joe’s $1.9 trillion economic bailout plan.
Yellen is expected to reaffirm the US commitment to market exchange rates and make it clear that the country isn’t looking for a weaker dollar to gain a competitive advantage, according to Wall Street’s report on the prepared speech plan.
Meanwhile, the global rally in stock markets has subsided somewhat after a sharp rise in 2021. The reporting season begins, so the risky assets may react sharply in case of significant deviations from the expected results. In this regard, investors took a break. Important earnings reports are expected today from the following companies: Bank of America, Morgan Stanley, Procter&Gamble, Intel, and Netflix.
The upcoming congressional talks on the aforementioned Biden’s bailout plan are adding uncertainty to the markets. It is expected that not everyone will agree with him and there will be obstacles. The growth in the number of infected people certainly pushes officials to spend more, but investors also can’t ignore the increasing damage, especially in Europe.
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by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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