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What is it? Fed Chair Yellen is due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC.

As head of the central bank, which controls short term interest rates, she has more influence over the nation's currency value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? February 24^th at 10:00am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

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What is it? It checks the level of a composite index based on surveyed households.

Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? February 24^th at 10:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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What is it? ECB President Draghi is due to speak at the official unveiling of the 20 euro banknote organized by the European Central Bank, in Frankfurt.

As head of the ECB, which controls short term interest rates, he has more influence over the euro's value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? February 24^th at 9:00am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.

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What is it? Eurogroup meetings are usually held in Brussels and attended by the Eurogroup President, Finance Ministers from euro area member states, the Commissioner for economic and monetary affairs, and the President of the European Central Bank. They discuss a range of financial issues, such as euro support mechanisms and government finances. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering meeting objectives may be released after the meetings have concluded.

The Eurogroup coordinates economic policies of the 19 euro area member states, and their initiatives and decisions can have a widespread effect on the Eurozone's economic health.

When? February 24^th all day long.

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What is it? During these hearings the BOE Governor and several MPC members testify on inflation and the economic outlook before Parliament's Treasury Committee. The hearings are a few hours in length and can create market volatility for the duration. Especially noted are the direct comments made about the currency markets.

BOE MPC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

When? February 24^th at 5:00am Eastern Time

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.

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During today’s early trading session, Asian markets traded higher after the release of Japanese data showing a positive trade balance and increased exports. During the BoJ monthly report, officials indicated mild concerns over the future outlook of the economy and the weakening Yen, and in turn drove investors towards the stock market. The Nikkei share average reached a fresh 15 year high, and was up by 0.37% closing at 18,322. Asian markets are today closed due to the Chinese and Lunar New Year.

During the European session, the Euro continued to trade lower, and has reached its lowest level in ten days against the Dollar. This decline came as Germany released a number of negative economic reports.

During early US trade the Dollar Index is trading cautiously after policy makers on Wednesday stated on that rate hikes will be delayed till later in the year, furthermore, mixed US data released yesterday showed that the Philadelphia Federal Reserve Manufacturing Index was significantly lower than the expected figure of 9.3, on the other hand the number of individuals who filed for unemployment insurance for the first time during the past week dropped to 283,000. Following the release of data from Canada, the CAD dropped against a basket of major currencies. 

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