Federal Reserve Chair Janet Yellen is expected to speak on Wednesday and many investors are watching from the sidelines to gain more clues on Yellen’s dovish or hawkish sentiment surrounding an additional interest rate hike in the fourth quarter.
Yellen’s remarks come ahead of the Labor Department’s September Employment Report which should provide insight for the Fed’s next moves. Additional news creating ambiguity among investors is speculation on who U.S. President Donald Trump is favoring as a candidate for the next Fed Chair position.
With all the attention on Friday’s job report, the U.S. Dollar Index pointed to a lower open as traders await the future of the greenback. The above chart, created for free using the award winning NinjaTrader platform, showcases the Dollar Futures Index 10-minute chart for the month of October. Volume Up Down and Volume Moving Average indicators are featured as a second chart panel to provide traders with insight on buying and selling pressure.
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