Yellen is the previous Chair of the Federal Reserve System – Powell is the new guy in charge So, a blast from the past Not sure at what event/venue Yellen is speaking, but Bloomberg with the headline comment
Higher USD (nearly) across the board, reflected in the yuan mid rate for the session PBOC skips open market operations
Topical comments from GS on the yuan with the PBOC (via China state banks) intervening in USD/CNY Bloomberg with an interview with GS managing director and senior China economist Tang
Probably of most focus will be ECB Executive Board Member Praet – also head honcho of economics at the Bank – speaking at UBS European Conference in London ECB Executive Board Member Lautenschläger speaks soon after
Further comments by ECB chief economist Peter Praet – Slowdown driven by drop in international demand – Growth is going to be bumpy – ECB will go carefully with normalisation process ForexLive
Comments by ECB chief economist Peter Praet in London – Slowdown primarily reflects a loss of momentum in global activity – To proceed with prudence, patience and persistence in policy ForexLive
Comment in quarterly monetary policy report – PBOC to make policies more flexibly, targeted I generally take these kinds of statements as platitudes but if you take it literally and the PBOC starts to tweak more, it adds some headline risk.
Nothing on monetary policy ForexLive
Harker speaks on workforce development We’ll keep an eye on Williams and Harker in case they speak later. The Fed’s Quarles speaks on stress tests at 1405 GMT.
On Friday CFETs set the yuan against its basket at 92.37 – previous Friday it was set at 92.31 OK, back to today… Weaker again for the onshore yuan mid rate from the Bank, Friday’s was 6.9329