During today’s early trading session, the Nikkei retreated from its 15 year high as investors made gains off increased share prices, however, losses were limited as China released positive data showing that the HSBC Manufacturing PMI was better than expected .
During the European session, the Euro is trading cautiously against the Dollar despite Greece’s approved 4 month debt bailout extension. The European Central bank stated that Athens resolution to the debt plan are not detailed enough to secure future bailout agreements. European stocks are slightly down, but remain supported with low trade volume after the approval of the Greece’s debt deal.
During early U.S. trade, the Dollar continues to trade lower against a basket of major currencies following Janet Yellen’s testimony. Yellen stated that an interest rate hike may be delayed until after “the next couple of FOMC meetings”, investors had expected a rate hike in mid 2015. The second part of the testimony is currently going on, and so we may see higher volatility in the markets as Yellen continues to testify.
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