The Euro and Yen gained against the Dollar yesterday as a risk averse mood was seen throughout the markets. It seems as though the Fed is currently in a situation where it can do little to counteract the risk aversion in markets currently being seen after Yellen’s relatively hawkish tone on Wednesday.
Yesterday’s economic docket was relatively light. The highlight was from the US labour market where the Weekly Jobless figure was released. Unemployment claims in the US exceeded market expectations posting at 269k, its lowest reading since December this year.
The Eurozone post their first reading of Q4 GDP, where growth is expected to remain at 0.3%. Following this in the afternoon the Retail Sales figures from the US are set to hit the wires, where the main gauge is forecasted to post a positive reading.