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Temat: FOREX - rozne pary walutowe/surowce
07.03.2013How EUR/USD, GBP/USD Will Likely React To Today's CB Meetings?
We expect the euro to remain a sell as there is little scope for ECB President Draghi to turn less dovish at this week’s ECB press conference.
Both, falling manufacturing activity and inflation expectations support such a notion. Elsewhere, further improving US data is continuing to keep the greenback supported.
According to the latest ADP jobs report, the US economy added private sector jobs at a faster pace than expected. Still, investors’ main focus will be on Friday’s payrolls release.
Investors’ focus is shifting to the Bank of England policy announcement. We do not expect them to increase quantitative easing as early as this week.
According to our economists, better than expected business activity in the services sector is one factor possibly decreasing the probability for the central bank to act.
On a different note, strongly rising inflation expectations may also make a case for the BoE to keep a wait-and-see stance. Under such conditions GBP/USD will face correction risk, especially as speculative short positioning is elevated. However, from a broader perspective we expect the GBP to remain a sell on
Franek Byk edytował(a) ten post dnia 07.03.13 o godzinie 08:08