Goldman Sachs economists expect the bank to stand pat, citing in-line economic data and weak inflation.
"After better-than-expected US jobs report last week, I think ... investors will wait for cues from the statement of chairwoman Janet Yellen to US Congress on Wednesday", IB Gimenez Securities Inc. research head Joylin Telagen said.
Industrial output grew 1.3 percent on a monthly basis, faster than the revised 0.3 percent increase seen in April.
US stocks and the dollar reversed gains after US President Donald Trump's eldest son released an email chain which mentioned a top Russian government prosecutor offering the Trump campaign damaging information about Democratic rival Hillary Clinton.
NRG Energy Inc (NYSE:NRG) is near the top of the New York Stock Exchange (NYSE) after the integrated power company unveiled a plan to sell up to $4 billion in assets over the next three years.
Oil futures traders reacted positive to her comments as well as downward revision of forecasts for dwindling production from USA shale.
Survey results from think tank Sentix showed that Eurozone investor confidence moderated in July.
The Fed had raised rates last month to a range of 1 per cent to 1.25 per cent and market expectations are roughly of a 50 per cent probability that interest rates will rise again before the end of the year, according to the CME's Fed watch data.
The stock market recovered yesterday ahead of the speech of US Federal Reserve chairperson Janet Yellen.
Looking at Europe, in a relatively quiet day the euro gained in late U.S. session last night on the political clutter from Washington. Delta Air Lines rose 98 cents, or 1.8 percent, to $55.26.
In commodity markets, oil prices got a reprieve from worries about oversupply after the US government cut its crude production outlook for next year and as fuel inventories plunged. But while Yellen was mostly positive, "her forward-looking comments on the economy and rates seemed a bit less emphatic than those from her press briefing last month", noted Jim O'Sullivan, chief USA economist at High Frequency Economics. The American Petroleum Institute reported a fall of 8.13 million barrels, well below the forecasted reduction of 2.9 million and adding to a draw of 5.76 million barrels the prior week.
Crude oil was higher. The rebound by gold stocks came amid an increase by the price of the precious metal.
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