Individuals – the words and statements of which have a significant impact on the world financial markets. Part 2. Alexander Sivtsov

World financial markets respond to a variety of factors, including the performance of key persons in the world.

In this article, I continue to acquaint you with individuals whose words and statements has a significant impact on market participants, especially in a decision-making process on further trading in financial market. The previous article can be found here …

This article is opened by a man’s name, which is associated with the famous worldwide hero of video games company Nintendo – plumber Mario. Mario Draghi is a chairman of the European Central Bank (ECB). Mario Draghi was born on September 3, 1947 in Rome. The future head of the ECB graduated from Rome University La Sapienza, in 1976. Later, from 1981 to 1991, he worked as a professor of economics at the University of Florence. At this time, while working as a professor, (from 1984 to 1990) was a member of the Executive Directors of the World Bank as a representative of Italy. The next career step from 1991 to 2001 – Draghi is the Director General of the Treasury, while from 1993 to 2001 he acts as chairman of the committee on privatization in the government of Italy. In December 2005, Draghi led the Bank of Italy, replacing Antonio Fratio, who was involved in financial fraud. June 24, 2011, At the summit of the countries of the eurozone in Brussels on June 24, 2011 Mario Draghi was confirmed for the presidency of the ECB for a period of 8 years, which expires on October 31, 2019.

Mario Draghi’s speeches occur quite often and are highlighted in the economic calendar. To date, market participants expect the ECB to reduce the stimulus measures of the eurozone economy, namely reducing the volume of the QE program, which at the moment is 60 billion euros per year. In October, the ECB is expected to decide on the volume of the QE program for 2018. The decision on the reduction will give a significant support for the single currency. Based on the fact above, any comments made by Draghi about readiness to further reduce of the economy stimulation will provide significant support to the euro.

The article continues with the chairman of the Central Bank of the country with the strongest economy in the world. You probably already guessed the next important person in our list is the chairman of the US Federal Reserve, Janet Yellen (the first woman who occupies this position). Janet Yellen was born on February 3, 1946 in Brooklyn, New York. In 1967 she graduated with honors from the University of Brown and received a bachelor’s degree. In 1971 received a Ph.D. in Philosophy at Yale University. She began her professional career working as a teacher: Harvard (1971-1976), London School of Economics (1978-1980) and Haas Business School at the University of California (since 1980). Between 1997 and 1999, she headed the Council of Economic Advisors to the US President. From 2004 to 2010, Janet Yellen is the FBI president of San Francisco, and since 2009 has been a member of the US Federal Open Market Committee (FOMC) with the right to vote. October 9, 2013, Janet Yellen was nominated by US President Barack Obama for the post of head of the Federal Reserve to replace Ben Bernanke, who resigned on January 31, 2014. In November 2015, according to the rating of the “Forbes” magazine, Janet Yellen became one of the ten most influential people in the world.

Nowadays, market participants focus on further tightening of the monetary policy of the Fed and reducing the balance of the Central Bank. Due to the focus on the Fed’s policy, Janet Yellen’s speeches are especially attractive to market participants. Since any comments by the Fed Chairman on the further policy of the Central Bank cause significant volatility in the market against the US dollar. Financial markets directly depend on such statements.

Watch the speeches of the Central Banks chairmen of the world’s leading countries, as well as follow the comments of the leading analysts of the Ester Holdings Inc. company in the “Expert opinion” section for more effective trading. Let the financial markets bring you only profit!

Alexander Sivtsov