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4 Feb 2013
Forex Flash: RBA to be overnight headline – Societe Generale
Sebastien Galy, Senior FX Strategist at Societe Generale notes that with US data limited, the RBA will provide an overnight focus.
Further, later this week, Carney will be questioned by the UK Treasury select committee, giving him his first chance to lead market expectations, a game at which he excelled at in Canada. Galy writes, “It is a bit like having Keynes in
charge of a central bank in the sense that it mixes policy and guidance with a trader’s feel for the story and themes the market wants to be led into. For now it is a bearish GBP one with an overtone of an eventual recovery. It would be surprising not to see this theme encouraged.”
Further, later this week, Carney will be questioned by the UK Treasury select committee, giving him his first chance to lead market expectations, a game at which he excelled at in Canada. Galy writes, “It is a bit like having Keynes in
charge of a central bank in the sense that it mixes policy and guidance with a trader’s feel for the story and themes the market wants to be led into. For now it is a bearish GBP one with an overtone of an eventual recovery. It would be surprising not to see this theme encouraged.”