Coming up today from the Federal Reserve:

Powell 02 March 2022

The ForexLive calendar lists important central bank events, as above. Check out the calendar for more here.

Powell is speaking at 10 local time (1500 GMT).

testimony in front of the House financial services committee

The picture on rates has shited since last week's invasion of Ukraine by Russia. Market rates are sharply lower on funds flowing into Treasuries on a haven basis. The outlook for a 50 basis point hike at the March meeting has dissipated, although 25 is still a near unanimous expectation.

Markets will be keenly watching and listening to Powell today for clues on that meeting. Powell has shown himself to be a cautious Fed Chair - I can't see him saying 50bps is likely, he'll favour a 25bp point move,

powell defcon