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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.”

Forex Flash: BoE meet to be a non event – BBH

Brown Brothers Harriman analysts suspect that the upcoming BoE event will be a non event.
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Forex Flash: ECB and BoE expected to keep policies steady – TD Securities

TD Securities analysts point to central bank meetings (RBA, ECB, BoE) this week as the main attraction, which may explain the market’s reticence to extend positioning too aggressively at this point. “The recent trends that have characterized FX trading—EUR strength and JPY weakness—seem deeply entrenched in the market but the extent of the moves seen in the past few weeks—unusually persistent by recent standards—are starting to cause some second-guessing regarding their durability", wrote analysts Shaun Osborne and Greg Moore, expecting both ECB and BoE to hold its policy despite some analysts' somewhat dovish expectations. Key support for the EUR/USD is 1.34 area, while the GBP may bounce a little after BoE's decision.
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