Forex Flash: Fed changes its timetables between statements – Deutsche Bank

The Fed recently decided to cut the lead time between the release of the FOMC statement and the start of Bernanke's press conference to 30 minutes. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “The new rule will start next week following the FOMC meeting on Wednesday. Previously FOMC statements were released at about 12:30 EST on press conference days followed by Bernanke's press event at 14:15 EST.” Moving forward, the FOMC statement and the Summary of Economic Projections will be released at 14:00 EST followed by Bernanke's appearance at about 14:30 EST.

In terms of today, initial jobless claims, the current account and PPI are the US releases of note. Europe will see the start of a two-day European leader summit in Brussels today and a draft statement indicated that leaders would endorse plans for "structural" assessments of national budgets focusing on "growth-friendly fiscal consolidation". Elsewhere, Schaeuble will speak at a Bloomberg event in Berlin and we also have the quarterly bulletin from the BOE, and the monthly report from the ECB.