Yellen speech today will be the last word before the Fed blackout

Yellen speaks today, after the market closes

The usual thinking is that Yellen does not say anything of market movement when the market is closed.

History shows that is not the case. I can think of at least two occasions where she spoke Friday at the end or after the market closed and made a few comments that have moved the dollar.

Today, she is in Washington, at the National Economists Club and will give a speech on «Monetary Policy Since the Financial Crisis’. There is a text and the Q&A from the audience, so she will have many opportunities to share his point of view.

The speech is due at 23: 30 GMT (7:30 pm eastern time).

Tomorrow, the Fed goes into its blackout period in advance of the Nov 1 decision of the FOMC. The market is pricing-in a near zero probability of a hike in the day, but will be looking for a signal on the month of December.

The big question is whether this will be one of Yellen’s final speech.

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