Fed Chair Janet Yellen gives her testimony to the Senate and House, new Brexit polls show voters leaning toward staying in the EU, and markets calm. Here are three things to know in the market today, June 21.
1. Janet Yellen Gives Testimony
Fed Chair Janet Yellen gives her two-day testimony to the Senate and House today. With 2016 being an election year, Yellen will be grilled on the Federal Reserve’s policy responses and the state of the U.S. economy.
In anticipation of her testimony, the dollar fell this morning.
2. New Brexit Polls Ease Fears
New polls from Monday show U.K. voters in favor of remaining in the European Union. The poll data eased fears of a Brexit, and drove the pound to its highest level since early January.
3. Markets Calm
Markets were calmer on Tuesday following the poll data from the U.K. The MSCI Asia Pacific Index moved ahead 0.8% overnight. Shares in the Philippines and Japan lead the gains.
In Europe, the Stoxx 600 Index climbed 0.2%, while London’s FTSE 100 Index slipped 0.3%. The German constitutional court ruled this morning in favor of the European Central Bank’s OMT bond-buying program, which weighed on markets.
S&P 500 futures were up 0.4%.