Shares climb as firmer Chinese yuan eases deflation fears
We have a shortened week this week due to President’s Day but it will be a busy week. We have Option Expiration this week which always makes things volatile. Economic reports will be light this week for the United States except for Wednesday. Wednesday has Janet Yellen speaking from the Federal Reserve plus we will have the EIA Petroleum Status Report. Anytime the Fed speaks plus we have an oil report we can almost guarantee a volatile day.
Overseas we are awaiting the open of the Chinese Market. They have been closed for the week-long Lunar New Year holiday. When China reopens its market it will release a lot of economic data that will be heavily watched. Japan will also release GDP numbers on Monday.