FRB Comments/Today11:30&1:00 FRB Comments/Today11:30&1:00
BNP Paribas: Markets To Eye Federal Reserve Comments
Federal Reserve communications will be a key for the foreign-exchange and other markets this week, with Chairman Ben Bernanke scheduled to testify on the economy before Congress Wednesday morning and minutes of the last Federal Open Market Committee meeting to be released the same afternoon, says BNP Paribas.
Ahead of Bernanke, Chicago Fed President Charles Evans on Monday.
St. Louis Fed President James Bullard on Tuesday (11:30 a.m. ET). Bullard, who will be in Frankfurt, is due to speak at discussing monetary policy in a low-rate environment. He has previously voiced concerns about too -rapidly falling inflation.
New York Fed President William Dudley (Tuesday 1:00pmET) Dudley is vice-chairman of the Federal Open Market Committee, he will be discussing both U.S. and Japan policy at the Japan Society in New York. "Markets will be looking for the chairman and NY Fed president to push back against recent talk of an early tapering of QE, which could help cool USD (U.S. dollar) upside momentum," BNP Paribas says. "However, the risk is that the chairman delivers a more balanced message and the minutes continue to acknowledge the preference of some members for a more immediate end to QE, keeping the USD bid."
All are voting members of the FOMC and traders will be watching to see if they offer any hints about how long the current quantitative easing program may last.