Yellen and German ZEW data amongst market movers today – Danske Bank

Research Team at Danske Bank, lists down the major market movers for the day.

Key Quotes

“Fed chair Janet Yellen's semi-annual monetary policy report to Congress starts today at 16:00 CET when she is scheduled to appear before the Senate Banking Panel. We think she will repeat the message from the meeting this week as nothing should have changed. The hearings will continue tomorrow.

German ZEW investor expectations index is released at 11:00 CET. The latest increase in the Sentix investor expectations points towards increasing ZEW expectations for June but the rising uncertainty regarding Brexit as reflected in support for the 'leave' campaign in recent polls and the correlated turmoil in the financial markets should outweigh the positive factors from the ongoing recovery and thus we expect a decline in expectations.

The German Constitutional Court will make its final ruling on ECB s OMT programme at 10:00 CET. While German judges have previously contested the legality of the programme, the favourable ruling by the European Court of Justice last year makes a rejection unlikely, in our view.”