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      Central banker’s speech to take the centre stage – BBH

      FXStreet (Delhi) – Research Team at BBH, suggest that there are some key events this week including ECB President Draghi's testimony before the European Parliament tomorrow and Yellen's speech at Amherst at the end of the week.

      Key Quotes

      “The news stream is particularly light and the main driver appears to be position adjustments after the dollar recovery from the disappointment with last week's Fed decision.”

      “Also, Four regional Fed Presidents (Atlanta, San Francisco, St. Louis, and Richmond) have all reiterated the likelihood of a rate hike before the end of the year. We had drawn parallels between the Fed's tapering and lift-off.”

      “The Fed began preparing the market for tapering. Hence the taper tantrum. While many (though not us) expected the tapering to be announced in September 2013, the Fed waited until December, as if giving investors (and itself) more time.”

      “Many are thinking of a repeat. October is being largely shunned. First, there is the awkwardness of having to call an impromptu press conference, which is theoretically possible (and the media has some guidelines on how this would work) but may be undesirable operationally, especially for the first move. Second, there is a sense that the reasons the Fed gave for not going last week (essentially two: China and low market-based inflation expectations) probably will not have changed very much by the end of October.”

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