In the central bank sphere, investors are likely to be digesting the comments made by Federal Reserve Chair Janet Yellen on Tuesday, when she told an audience in London that she did not expect to see another financial crisis during her lifetime, giving credit to the reforms seen in the banking system since late 2000s crash.

Meanwhile, San Francisco Fed President John Williams spoke in Canberra, Australia on Wednesday, about the causes and consequences of the global growth slump.

Comments from the Fed officials followed remarks made by European Central Bank President Mario Draghi, in which he said the European economy was “strengthening and broadening.”

Draghi also said: “Now, we can be confident that our policy is working and that those risks have abated. The threat of deflation is gone and reflationary forces are at play.”

On the data front, mortgage applications fell 6 percent last week. International trade in goods data are also due at 8:30 a.m. ET, and pending home sales at 10 a.m. ET.

The U.S. Treasury is set to auction $28 billion in seven-year notes.

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