Today is all about central bankers

• European Central Bank (ECB) governor Mario Draghi is scheduled to speak today at 14:00 GMT in the event of the release of a new € 20 bank note in Frankfurt.

• Federal Reserve (FED) governor Janet Yellen is scheduled to speak to lawmakers at bi annual event to testify before congress in Washington. This is a two day event. Today it is expected to start at 15:00 GMT.

• Bank of Canada (BOC) governor Stephen Poloz is scheduled to speak at a press conference at 19:00 GMT.

Analogy & expectation

• Much is not expected from ECB as Mr. Mario Draghi hardly comments out of the line and on monetary policy in an event of such kind.

• Lot is expected from governor Yellen as she faces scrutiny on various aspects beyond monetary policy. Market will be searching for any queue regarding the first rate hike. Nevertheless her view on different segments like labor and housing markets as well as falling inflation expectation will be vital to assess the future path of monetary policy. Usually in terms of market movement, first day comments from the event are more pivotal.

• Speech from BOC governor will also be of high importance, as he usually provides queues of monetary policy expectation. In recent time, BOC has reduced the rate by 25 basis points to 0.75%. Vital would be his view on the minimum threshold level for the interest rates & the tools the bank is considering in its pledge for easy monetary policy.