ECB chairman speaks, Fed chairman speaks, Treasury secretary testifies

[JTrader]

ECB President Trichet Speaks
Assist Treasury Sec Kashkari Speaks
Gov Council Member Duguay Speaks
BOE Governor King Speaks
Treasury Sec Paulson Speaks
FOMC Member Kohn Speaks
FOMC Member Stern Speaks
FOMC Member Plosser Speaks
President Bush Speaks
FOMC Member Stern Speaks
FOMC Member Pianalto Speaks

etc. etc.

This is a selection from this weeks busy speech schedule. There were more

Why has there been so many speeches this week?

All these "news" events can at times really **** up an afternoons trading as the market becomes really choppy.

At times they have no effect, but this week Monday, wednesday & today, they seemed to have major effects.

Why i dont like these speeches is you dont know whats been said, or what the result is, as with a regular economic news release, where you can see the result on the FF or briefing calendar a few minutes later.


Are there any speeches, where its best to say - sod this, i'm having the afternoon off, as it will probably be choppy, or does it simply come down to what is being said?
If so which do you particularly avoid?

Also, are all these speeches broadcast on some tv station? if so which?

Has the choppyness around these speeches his week just been exceptional, due to the state of the global economy?

Cheers.

 

[JTrader]

I suppose it all comes down to the conditions at the time/in the moment at the end of the day, and whether or not attractive setups form, as to whether these times should be traded through.

 

[JTrader]

Also, how long do these speeches & testifications tend to last?
2, 5, 30 minutes?

Cheers.

 

[JTrader]

I could actually do without all these speeches.
If they have to do it, i wish they'd do so in the middle of the night when the impact of what they come out with will not bother my trading day.

 

[JTrader]

forex factory colour code the relevance of all news releases and speeches

red = high impact
orange = medium impact
yellow = low impact

etc etc

 

[FXSCALPER2]

Regular news schedules don't have as much impact these days as they used to because the market has bigger fish to fry. Howeverm these speeches are used as excuse to move the markets around. You can take advantage of all this if you are quick and have a reliable broker.

You can of course subscribe to a newsfeed to get the speeches live.

 

[JTrader]

Regular news schedules don't have as much impact these days as they used to because the market has bigger fish to fry. Howeverm these speeches are used as excuse to move the markets around. You can take advantage of all this if you are quick and have a reliable broker.

You can of course subscribe to a newsfeed to get the speeches live.

I'm going to try the free retail version of ransquawk that has a 30 second delay, that i have just been informed about.


Though tbh - as i see it - regular news effects do not have a consistent effect in terms of direction of any movement immediately after them. Price will just as easily go in the wrong direction v's the right direction according to the result of the news release, and what the theoretical result should mean. I.E. better than forecase US news, EURUSD should go down in price, but often the reverse can happen, as price just continues to go with the direction it was already heading in.

Therefore, i fail to see how listening to these politicians and bankers speeches could possibly help me in the moment in terms of giving me direction guidance. Price will often continue chopping back and forth, whether what they say is really good or really bad. So listening to them might just create more noise/baggage in my ear...

 

[JTrader]

9:30am USD Fed Chairman Bernanke Testifies
[Open Detail]

9:30am USD Medium Impact Expected
Treasury Sec Paulson Speaks
[Open Detail]

10:45am GBP Medium Impact Expected
MPC Member Besley Speaks

yES, WE HAVE MORE LIKELY DISRUPTION THIS AFTERNOON FROM 1430 or likely earlier. Still never know, price might be as smooth as a swan on water.

 

[JTrader]

Yes today is another messy afternoon with tight choppy ranges, as a result of bernanke and paulson speeches.

Besides the speeches, the US session is often like this. If one is not savvy to the contractions, one will likely give back any profits made in the mornings.
A european morning session is often quite different to what happens generally once the US opens, especially when significant news & speeches are due.

This is why trading longer hours dont necessarily equate to more pips profit.