Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

FX Markets Focus On ECB, BOE, Fed Commentary

Published 03/27/2015, 05:47 AM
Updated 07/09/2023, 06:31 AM

Talking Points

  • FX Markets Eye ECB, BOE, Fed Commentary into Week-End
  • Commodity Dollars Drop Alongside Oil , Iron Ore Prices in Asia

Central bank commentary is likely to overshadow a lackluster economic calendar through the end of the trading week. From the Bank of England, scheduled remarks from Governor Mark Carney, Chief Economist Andy Haldane and Deputy Governor Ben Broadbent are due to cross the wires. From the ECB, Bundesbank President Jens Weidmann is on tap. Finally, from the Federal Reserve, Vice Chair Stanley Fischer and Chair Janet Yellen are in the queue.

For the Fed and the BOE, the central question is that of timing for oncoming interest rate hikes. Both central banks have seen recent moderation in tightening expectations and traders will be keen to dissect their officials’ rhetoric to further inform speculation.

For the ECB, the issue of Greecewill probably take center stage considering its QE effort is effectively on auto-pilot for now. Athens faces a deadline to deliver a list of reforms meant to unlock bailout funds by Monday and the markets will want to hear the monetary authority’s position on what may happen thereafter, regardless of whether the plan is accepted or not by the Greece’s creditors.

The Australian, Canadian and New Zealand Dollars underperformed in overnight trade. The move tracked a pullback in crude oil and iron ore prices. While a discrete catalyst is not readily apparent, it is possible that traders reflexively defaulted to selling the so-called “commodity currencies” amid broad weakness in the raw materials space.

Data Watch

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.