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Flash: Market to monitor Fed commentary this week – RBS

FXstreet.com (Barcelona) - The upcoming week will feature a number of speeches from various Fed officials which may help act as an important catalysts and help dominate fx trading in coming sessions.

According to analysts at RBS, “the market will be looking closely at the Fed commentary this week. Bernanke's testimony to Congress on Wednesday is the main focal point, but there are important speeches by doves Evans and Dudley before then. As key supporters of maintaining the current $85bn pace of asset purchases, any shift in their tone will be seen as evidence that the consensus and Bernanke's views have shifted.”

They went on to add, “the commentary by Fed Watcher Hilsenrath just over a week ago and by a Fed dove Williams on Thursday last week has got the market thinking about potential for QE tapering in the summer, which puts into play the 19 June, 31 July or 18 September meetings. The June meeting includes a Bernanke press conference and staff projects, as does the September meeting.”

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