Markets await speech by ECB President Trichet in Frankfurt

NEW YORK (Forex News Now) – European Central Bank President Jean-Claude Trichet is due on Monday to speak at a journalists club in Frankfurt, Germany, in an event that holds importance for FX traders.

Trichet, who has been head of the central bank since 2003, has often given clues during such public appearances about short-term interest rates and future monetary policy.

He is due to speak at 8:30 P.M., GMT; as such his comments are likely to dominate currency market trading late tonight and early Tuesday.

The ECB chief has been under increasing pressure lately to calm investor fears that the euro zone debt crisis will spread from Ireland to Spain, Portugal and even Italy and Belgium.