- Over the course of six hours leading up to the market’s closing this week, we will hear from Lorie K. Logan, Raphael Bostic, Michelle W. Bowman, and Tom Barkin
- EUR/USD and GBP/USD traders may also be interested to know that officials from the European Central Bank and the Bank of England will also be speaking this week
Will the numerous appearances of US Federal Reserve officials rock the market during the closing hours of this trading week?
Over the course of six hours leading up to the market’s closing this week, we will hear from Lorie K. Logan (Dallas Fed), Raphael Bostic (Atlanta Fed), Michelle W. Bowman (Board of Governors), and Tom Barkin (Richmond Fed), in that order, until the forex market closes.
With so many consecutive appearances, traders may experience information overload, potentially leading them to avoid the market. Alternatively, they may jump into the market during this typically low-volume session to position themselves for Monday morning trading. The hope in the latter scenario is that they will put themselves ahead of other market participants who need time to digest all the comments from the Fed officials over the weekend.
On Wednesday, Minneapolis Fed President Neel Kashkari expressed concerns over inflation and job data received in February following the Reserve’s 25-basis rate hike. Kashkari noted that he was “open-minded” about a 25 or 50 basis point rate hike for the next one. The sentiment of other Fed officials regarding this matter should help in setting trade positions this Friday and the following week.
EUR/USD and GBP/USD traders may also be interested to know that officials from the European Central Bank and the Bank of England will also be speaking this week. ECB’s Isabel Schnabel will be speaking on Thursday (EST) at the time of the release of the ECB Monetary Policy Meeting Accounts, followed by the BoE’s Huw Pill a few hours later. Christopher Waller from the US Fed will also be speaking on Thursday at 4:00 pm (EST), after Pill.