There are four events that will shape market psychology in the week ahead. They are Yellen’s speech to the NY Economic Club, US jobs data, eurozone March CPI and PMI, and Japan’s Tankan Survey.
The broad backdrop is characterized by the rebuilding of risk appetites since the middle of February, though the MSCI emerging market equity index put in its low on January 20, as did the CRB Index. The price of oil appeared to bottom then as well, but it retested the lows in mid-February and made a marginal new low. ……… Read full story