What are the main events for today?

Today is likely to be one of those Mondays when the price action could swing up and down for no apparent reason given the lack of catalysts. These days is generally better to preserve capital and refrain from trading.

The only notable events on the agenda include lots of central bank speakers for the ECB and a couple for the Fed. The ECB members will likely continue to repeat that they will wait for new data until September before taking a decision. On the other hand, it’s going to be interesting to see if the Fed speakers are going to push back harder on the latest projections given the very good inflation data last week.

Central bank speakers:

• 09:00 GMT – ECB’s Lagarde (neutral – voter)
• 11:30 GMT – ECB’s de Guindos (neutral – voter)
• 12:00 GMT – ECB’s Cipollone (dove – voter)
• 13:15 GMT – ECB’s Makhlouf (dove – voter)
• 16:00 GMT/12:00 ET – Fed’s Williams (neutral – voter) He’s going to be the one to watch.
• 17:00 GMT/13:00 ET – Fed’s Harker (dove – non voter)

This article was written by Giuseppe Dellamotta at www.forexlive.com.