Fed Chair Janet Yellen's speech is the single most important event today – Danske Bank

Following the recent hawkish comments from dovish FOMC members, today's single most important event is Fed Chair Janet Yellen's speech tonight which will garner maximum investors’ attention according to the analysts at Danske Bank.

Key Quotes

“Given the relatively strong data, easy financial conditions and calm markets with record-high stocks, it seems likely to us that the Fed will hike at the upcoming meeting (despite the softer signals from the latest minutes), especially now that markets more or less expect the Fed to do so (markets have priced in over a 70% probability of a March hike). Still, we would like to hear it from Yellen herself to get the final confirmation and it is likely that she echoes the other FOMC members saying an increase is coming 'soon'. Also Fed Vice Chair Stanley Fischer and Charles L. Evans are also due to speak tonight.”