All European markets were up overnight.The FTSE rose 33 points...

All European markets were up overnight.

The FTSE rose 33 points (.43%), the DAX rose 18 points (.10%) and the CAC rose 21 points (.28%).

In the US, markets were in the green - though fairly muted.

The DOW rose 75 points (.20%), the NBI rose 12 points (.29%), the NASDAQ Composite rose 91 points (.58%) and the Russell small cap index rose 14 points (.70%).

Jerome Powell (head of the US Fed) was addressing the US Congress (House Financial Services Committee) and stated:

"If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year,"

This is typical economist speak - vague and nothing that can be attacked later as being right or wrong

Pretty much the same as saying "if you find that your car is travelling at sped towards a brick wall, there is a fair chance that you may consider applying pressure on the brake pedal at some stage".

US Treasury 10 year bond yield is creeping down - currently at 4.11%.

Oil prices are up - Brent crude at US$82.90 per barrel.

The gold price continues to have some momentum and is up to US$2,146 pe oz.