samedi 14 février 2015
Week Ahead: Greece, FOMC Minutes, BoJ, Short EUR, Buy GBP
Posted on 00:21 by nice news
Markets have remained volatile this week, partly due to Greece-related uncertainty, central bank surprises and weaker US data. Given firm expectations of a satisfying solution to be found for Greece in time, stock markets and the EUR remained supported.
As we expect strongly capped ECB monetary policy expectations to prove the currency is a more sustainable driver we remain in favour of selling rallies against the USD and GBP.
According to our FX Execution Mapper Tuesday and Friday will be among next week’s most active trading days. However, several central banks publishing policy meeting minutes and Wednesday’s UK labour data should keep volatility high too. In particular GBP may face upside risk should next week’s data prove supportive to investors’ growth and rate expectations. This is especially true as speculative positioning data indicates intact position squaring-related upside risk.
Elsewhere, the SEK was among the weakest performers, mainly on the back of the Riksbank easing monetary policy further. Weak labour market conditions suggest that inflation will remain subject to downside risk. Hence, additional measures cannot be excluded should incoming data make a case for it. As stressed in last week’s publication, we expect USD/SEK’s uptrend to remain intact.
What we’re watching:
Greece – Monday’s Eurogroup meeting will be the next key event attracting investors’ attention. More progress towards a satisfying solution cannot be excluded. Still, we anticipate only limited EUR upside risk.
BoE minutes & data – constructive domestic growth conditions are likely to prevent inflation from falling more considerably. We do not expect a dovish surprise from the minutes.
BoJ policy announcement – it appears too early to turn more aggressive on monetary policy. However, we remain in favour of
As we expect strongly capped ECB monetary policy expectations to prove the currency is a more sustainable driver we remain in favour of selling rallies against the USD and GBP.
According to our FX Execution Mapper Tuesday and Friday will be among next week’s most active trading days. However, several central banks publishing policy meeting minutes and Wednesday’s UK labour data should keep volatility high too. In particular GBP may face upside risk should next week’s data prove supportive to investors’ growth and rate expectations. This is especially true as speculative positioning data indicates intact position squaring-related upside risk.
Elsewhere, the SEK was among the weakest performers, mainly on the back of the Riksbank easing monetary policy further. Weak labour market conditions suggest that inflation will remain subject to downside risk. Hence, additional measures cannot be excluded should incoming data make a case for it. As stressed in last week’s publication, we expect USD/SEK’s uptrend to remain intact.
What we’re watching:
Greece – Monday’s Eurogroup meeting will be the next key event attracting investors’ attention. More progress towards a satisfying solution cannot be excluded. Still, we anticipate only limited EUR upside risk.
BoE minutes & data – constructive domestic growth conditions are likely to prevent inflation from falling more considerably. We do not expect a dovish surprise from the minutes.
BoJ policy announcement – it appears too early to turn more aggressive on monetary policy. However, we remain in favour of
Week Ahead: Greece, FOMC Minutes, BoJ, Short EUR, Buy GBP
Inscription à :
Publier les commentaires (Atom)
0 commentaires:
Enregistrer un commentaire