USD: will Yellen encourage a US interest rate rise later in the year?

In an otherwise quiet day for the US economy, weekly initial jobless claims figures showed that they rose last week, albeit by slightly less than expected. They reached 234,000 from 232,000 the week before, although a figure of 238,000 had been forecast.

As we have mentioned, the Jackson Hole meeting of central bankers continues today, where both ECB President Mario Draghi and Federal Reserve Chair Janet Yellen are due to speak. It is an interesting time for Yellen to speak, given the speculation surrounding Donald Trump replacing her next year.

There are increasing murmurs that Yellen could comment on the likelihood of a US interest rate rise later in the year. All eyes and ears will be on both speeches.