Guess who's back
The key risk event to watch in the market today will be Janet Yellen's confirmation as Treasury secretary later today. She will be testifying in Congress at around 1500 GMT and her comments on the market - especially on the dollar - will be heavily scrutinised.
Upon the return from the long weekend, the market appears to be in a more buoyant mood for now with the dollar slumping across the board. But just be wary about Yellen's remarks as that could have the potential to shake things up later on in the day.
A couple of previews from earlier in the week on what to expect:
- Yellen will affirm commitment to a market-determined level for the USD rate
- Yellen to be the only government official permitted to speak on the dollar
- Yellen to highlight US income inequality in speech, say it's time to 'act big'
- Yellen testifies on Capitol Hill today - will it weaken the USD?
- Yellen being told to endorse a strong US dollar (20/12/2020)
