0656 GMT [Dow Jones] After a brief choppy period during Fed Chair Yellen's testimony Wednesday, the markets settled down with the USD ending the day little changed against the majors. Overall she was a touch dovish with the 'rates lower for longer' message still in place. Equities took the news well with the Dow and S&P adding 0.7% and 0.6% respectively. The decent mood spilled over into Asia Thursday with strong Australian jobs data and above- forecast China export data boosting AUD and sentiment in general. The Nikkei added 0.9%, AUD/USD climbed to a fresh 3-week high of 0.9386 while AUD/NZD hit a 1-week high of 1.0833 with the Kiwi still weighed down by yesterday's intervention threats from RBNZ Governor Wheeler. Up ahead, rate decisions from the Norge Bank (0800 GMT), BoE (1100 GMT) and ECB (1145 GMT), all seen on hold. There is no first tier European data on tap, already out, German March industrial output fell 0.5% on the month against an expected 0.2% gain. gary.stride@wsj.com
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(END) Dow Jones Newswires
May 08, 2014 02:56 ET (06:56 GMT)
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