29 Jul 2013
Flash: The big four - HSBC
FXstreet.com (London) - David Bloom, Global Head of FX Research at HSBC said over the next 10 days the markets will be focusing heavily on the policy meetings of the big four.
Key Quotes:
“This week: Fed, BoE, ECB. Next week: BoJ, RBA (We expect 25bp cut), BoE Carney inflation report”
“on top of thesepolicy meetings we have crucial data
US GDP data (important benchmark revisions) ISM,
Payrolls”.
“By the end of the week we may have a better understanding of where we stand on the tapering debate. This will be critical to all markets”.
Cable: play the short side. We think the Fed will be taking their foot off the accelerator whereas the BoE may indicate the opposite. These events and data should be negative for GBP-USD”.
AUD: a chance to break 0.90. A rate cut (not fully priced in) by the RBA on the 6th of Aug could see the AUD finally break 0.90”.
“EUR: leave it alone. We expect the ECB to remain in a wait-and-see mode. The resilient EUR should trade softer but we would prefer selling AUD and GBP”.
Key Quotes:
“This week: Fed, BoE, ECB. Next week: BoJ, RBA (We expect 25bp cut), BoE Carney inflation report”
“on top of thesepolicy meetings we have crucial data
US GDP data (important benchmark revisions) ISM,
Payrolls”.
“By the end of the week we may have a better understanding of where we stand on the tapering debate. This will be critical to all markets”.
Cable: play the short side. We think the Fed will be taking their foot off the accelerator whereas the BoE may indicate the opposite. These events and data should be negative for GBP-USD”.
AUD: a chance to break 0.90. A rate cut (not fully priced in) by the RBA on the 6th of Aug could see the AUD finally break 0.90”.
“EUR: leave it alone. We expect the ECB to remain in a wait-and-see mode. The resilient EUR should trade softer but we would prefer selling AUD and GBP”.