Get a cup of coffee and get ready, Yellen is coming up - Forex News by FX Leaders

Get a cup of coffee and get ready, Yellen is coming up

Posted Monday, June 6, 2016 by
Skerdian Meta • 1 min read

The FED chairwoman Janet Yellen is due to give a speech about the economy and monetary policy at the World Affairs Council of Philadelphia at 16:30 GMT. The FED FOMC minutes from their last meeting were hawkish and the recent comments from the from FED members implied a June or July rate hike but the economic data was the deciding factor. Since April we´ve had plenty of positive economic data from all the sectors of the US economy besides manufacturing. So, the market expectations for a summer rate hike increased.

Will Yellen Break the range in USD/JPY?

But surprise surprise, last Friday the employment figures were published and they showed a collapse. Employment has been the strongest aspect of the US economy this has been the longest run with more than 150k new jobs a month ever. But we know it can´t last like this forever, the time will come that the employment number will drop but the wages should pick up. Maybe now it´s that time and the wages did hold up on Friday when the figures were published. But the market still saw the negative side of the employment report, that´s why Yellen´s speech today is important. This is the first time she will speak since Friday and we´ll see if she agrees disagrees with the market after the drop in the employment numbers. We have an article about how to trade the central bankers rhetoric.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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