PREVIEW - Calling all rate watchers as Fed's Yellen set to make speech

Particularly of note of course is any clue on when interest rates may rise in the US

Janet Yellen- the Fed chair
Waiting and watching - Yellen speaks today

Not much on the corporate radar on Friday.

There's a trading update from manufacturer Bodycote (LON:BOY) but, away from corporate news, the focus is more likely to be focused on a speech by fed chair Janet Yellen in the afternoon.

Particularly of note of course is any clue on when interest rates may rise.

Investors will also be waiting for clarity from Japan, after jitters on Thursday with the Yen going higher, on whether the country will go ahead with planned sales tax hike next year.

Markets and traders are likely also to be watching the continuation of the two-day G7 meeting in Japan, where the global economy is likely to be a highly important theme under discussion..

Yellen's speech could reinforce expectations that the central bank might raise interest rates as early as June, or July, but equally important as any hint she makes, may be hints she doesn't make.

Certainly recent commentary has been mixed while the global backdrop is anything from settles.

St. Louis Fed president James Bullard said on Thursday that the jobs market may put upward pressure on inflation, but he said there was a gap between markets' expectations on a rise and actual Fed policymakers.

But Fed Governor Jerome Powell has also said an interest rate hike could be appropriate fairly soon..

The wait and watch game continues...

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