“Yellen praying that the September NFP is a bad number as that would rationalize delay in rate hike”, says Zak Mir, Analyst at Zak’s Traders Cafe, as we look at the possible reaction in FX and gold from Yellen’s speech ahead, broker upgrades and downgrades, market sentiment, and the top stories in financial markets. Also joined by Nick Batsford, CEO at Tip TV.
Highlights:
“Unlikely Yellen would sound hawkish”
“Equities bull run over August looks overstretched, thus a pullback is likely”
“No signs of post-Brexit gloom doom… weak pound benefiting the UK economy”
“Japan data showed deflation worsened last month”
“It will be interesting to see if September would finally be the month when equity markets see correction” - Zak Mir.