Monitor Yellen's speech for potential shifts in monetary policy that could impact Forex markets.
As the central bank's leader, who oversees short-term interest rates, she holds greater sway over the national currency's value than anyone else. Traders closely monitor her public appearances, as they often contain hints about future monetary policy. She served as Fed Chair from February 2014 to February 2018 and as a Fed Governor from October 2010 to February 2018. Her speeches often result in increased market volatility as traders try to interpret potential interest rate changes.
What it Measures
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Usual Effect
A more hawkish stance than anticipated is beneficial for the currency.
Source & Frequency
Federal Reserve (latest release) - https://www.federalreserve.gov/
How Data is Derived
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Also Known As
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Acronym
Federal Reserve (Fed)