Richard Perry
Independent Analyst
The market sentiment is a touch missed going into what could be a crucial week of economic data. Several days of selling pressure were halted on Friday as Janet Yellen made comments that seemed to suggest there was no immediate rush to raise interest rates and that when it did come it would be a slow and steady process. This helped to avoid a 5th consecutive negative close on Wall Street and saw the S&P 500 rally by 0.2%.
Asian markets have been slightly higher today despite a weak set of Japanese industrial data which saw industrial production falling by 3.4% which was worse than expected. Alongside comments coming from the People’s Bank of China about the slide in growth this has the potential to drive further easing to monetary policy by both Japan and China. This allowed the Nikkei to close around 0.8% higher. European markets are set to follow the Wall Street bounce into the close and are currently seeing early gains.
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