Coure speaking in France The market is more concerned about the fresh lows in the S&P 500 at the moment. ForexLive
Further comments by ECB member Olli Rehn – ECB sets policy for the whole Eurozone, not just one member ForexLive Well, not yet at least. In a time when the ECB is winding down its asset purchase programme and ending QE, Italy could really do with more bond purchases. Talk about irony.
The drop in JGBs (higher yield) may be enough to prompt the Bank of Japan into buying – This doing the rounds on wires, media … ‘Japan 10yr yield hits 0.145% level that spurred BOJ buying’
Chair of the Federal Reserve System Jerome Powell spoke during late US time, very early Asia morning: Yep, he was the catalyst for a continued gain in the USD, EUR/USD to under 1.1500 after soft Europe/USD/US sessions.
This from Goldman Sachs on Fed Chair Powell and the Federal Open Market Committee, some prescient analysis ahead of Powell’s comments late NY time What could make the FOMC speed up the pace of tightening? What would make it pause? And how will the Committee know when it’s done?
The US dollar has had a strong session right through Europe/UK and US time A little more of the same continuing on now. If a catalyst was needed for the next few tics up it would seem Powell is da man:
Federal Reserve head Powell speaking , all very rate hike sort of stuff (not surprisingly) – very happy about where the economy is – unemployment lowest in 20 yrs As I said in the bracket above, nothing surprising from Mr. P
Comments by ECB member Olli Rehn – Need for extended forward guidance will also diminish as inflation makes progress – As monetary policy is normalised, ECB will gradually reduce non-standard policies ForexLive
Speaking after talking at community banking conference in St. Louis The Cleveland Fed president adds:
He is always open to Q&A though Fed’s Bullard also did not comment on monetary policy in his prepared remarks at a community banking conference. Having said that, he tends to not be so closed mouthed with audiences and reporters. So we will be looking out for any comments later. Bullard is a dove.