Fed Chair Powell Set to Shake-Up the Majors
Weekly Brief Feb 26
This week, the Greenback will once again be in focus as the new Fed Chair Jerome Powell will be testifying in front of Congress. That means the majors are going to be seeing a fair bit of action. On the economic data front, we have a huge week that features, US GDP, Eurozone CPI and of course non-farm payrolls. There is bound to be a lot of action over the next five trading sessions so don’t miss out.
Main Economic Events
Feb 26
Monday (EUR) Mario Draghi Testifies - Draghi is due to testify about monetary policy and inflation outlook. Draghi's speech will be closely monitored for further clues on the tapering of the QE program.
Wednesday (USD) Prelim GDP q/q - The primary figures are forecasted to drop from 2.6% to 2.5%. The GDP typically moves the US dollar, Gold (bullion market) & Indices, so it's a good figure to keep an eye on.
Thursday (USD) Fed Chair Powell Testifies - At 13:30 (GMT), Powell is due to testify. This will be his first testimony as a new Fed Chair. This is the best chance for us to understand whether he has a dovish or hawkish stance.
Friday (GBP) Prime Minister May Speaks - May is scheduled to speak about Britain's post-Brexit relationship with the European Union, in London.