Gold markets to eye first major Yellen speech since last FOMC meeting

UNITED STATES March 28 2016 7:30 PM     

NEW YORK (Scrap Register): A speaking appearance by Fed  Chair Janet Yellen on Tuesday will be one of the key events gold markets will be  watching this week, said Brown Brothers Harriman.

The Fed chief is scheduled to address the Economic Club of New York  during a luncheon Tuesday.

“It is her first major event since the FOMC  (Federal Open Market Committee) meeting and follows comments by at least four  regional Fed presidents sounding somewhat less dovish than the market understood  by the FOMC statement and the dot plot,” BBH added.

The firm said that  it does not expect Yellen's comments to deviate much from the last FOMC  statement and her remarks at the press conference after the March Fed meeting.  

“She is managing the transition and the beginning of the normalization  of monetary policy with a broad consensus,” BBH noted. ”There was no dissent in  December when rates were hiked.”