Bernanke

The chairman of the Federal Reserve Bank (FED), Ben Bernanke, speaks. This means he will be addressing some conference which will be followed by the media. Many Forex investors are watching this event with a close eye.

What the professional traders are doing is mostly trying to read between the lines of what Bernanke says in order to understand his position regarding the economy. Most importantly they are looking for direct or indirect clues to the FED's next course of action. Anything that would signal a change of the FED's policy regarding interest rates would impact heavily on the Forex market. Concern for inflation can also be seen as a positive sign for the dollar.

As chairman of the FED, Bernanke has the power to move markets significantly with the force of his words alone. I doubt if any one else in the world has so much influence on the dollar as much as the Chairman of the Fed has. That's why he is usually choosing his words carefully, avoiding specifics. So it is not always easy and clear to understand what exactly his intentions are.

However, If you learn how to read between the lines on those speeches and understand the meaning behind it, you will surly be able to translate it into a lot of cash. It Doesn't matter if you trade the short or the long term.
You can usually see Ben's speech live on T.V business channels like Bloomberg or CNBC, or alliteratively wait for the reviews on various news websites.

You can also catch Bloomberg live on the internet here
http://www.bloomberg.com/tvradio/tv/