FXStreet has announced the launch of Speech Tracker, a new tool on the Economic Calendar that evaluates the tone of Federal Reserve (Fed) officials’ speeches.
With Speech Tracker, powered by a proprietary AI model designed and trained by the FXStreet team, traders can quickly assess the sentiment of a speech and compare it against each speaker’s historical tone to detect potential shifts in his or her views on monetary policy.
AI for enhanced decision-making instead of replacing it
Javier Hertfelder, co-CEO at FXStreet, said: “Our vision for AI is clear: we aim to elevate the trader’s journey by providing tools that enhance decision-making, instead of replacing it. With the launch of our Speech Tracker, we continue to use technology as an augmentation of human expertise. This tool streamlines operations and centralizes knowledge, offering fast, actionable insights while maintaining the highest standards of accuracy. Our AI is trained under strict ethical guidelines and constant expert oversight to ensure that we deliver innovative solutions within a platform built on trust and integrity. Through this balanced approach, we aim to empower traders with the best of both technology and human insight, making their journey more efficient and informed.”
Rating speeches on a dovish-to-hawkish scale from 0 to 10, the AI-driven system analyzes the nuances of central bank speeches to deliver fast, actionable insights for traders.
This new feature on the Economic Calendar allows for more informed decisions, especially in times of uncertainty when central bank commentary is closely scrutinized as it can signal upcoming changes to interest rates.
FXStreet is thus enhancing its flagship calendar to provide immediate, easy-to-understand numeric scores for central banker speeches, which often play a key role in shaping market movements.
Brokers using FXStreet’s Economic Calendar can leverage the Speech Tracker to provide their traders with a competitive edge. By quickly delivering insights from key speeches by central bank officials, brokers enable traders to make faster, informed decisions based on expectations for future interest rate changes influenced by these speeches.
Initially, the Speech Tracker covers speeches from Federal Open Market Committee (FOMC) members. However, it will soon expand to include other major central banks, further enhancing its value to FXStreet’s growing audience.
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