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On Thursday, Federal Reserve Chairman Yellen gave a speech saying that an interest rate hike may come relatively soon, and there is a danger in waiting too long. U.S. stocks and U.S. bond yields generally rose, and the U.S. dollar index hit a new high in the first half of the year. Federal Reserve Chairman Yellen will attend a congressional Joint Economic Committee hearing today. Earlier, the transcript of Yellen’s speech at the hearing was disclosed. Yellen said that a relatively quick interest rate increase may be appropriate and that keeping interest rates unchanged may stimulate excessive risk-taking, suggesting that the economic outlook has not changed much after Trump's victory.
In addition, a series of U.S. economic data released on Thursday were positive. Data from the U.S. Department of Labor showed that the number of people applying for unemployment benefits in the United States fell by 10,000 last week, hitting the lowest level since the beginning of the year.
Data from the U.S. Department of Commerce showed that housing starts soared in January, surpassing a nine-year high of 10,000 units. U.S. monthly consumer price growth hit a six-month high, indicating rising inflation.
The federal funds futures market shows traders are currently pricing in more than a chance of the Fed raising interest rates this month, according to the U.S. Federal Reserve Tool.
Hunan Weide Bulk Commodity Spot Trading Center investment hotline, Manager Liu
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