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Forex Flash: Central banks constitute major focus this week – Deutsche Bank

A major focus for the week will be on the ECB, BoE (Thursday) and RBA (Tuesday) meetings this week. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “The market is not expecting a change in policy from the ECB and BoE, although Draghi's post-ECB press conference will be closely watched in light of last week's softer bank lending survey.”

On the same day as the ECB and BoE meetings, governor-in-waiting Mark Carney will appear before the UK House of Commons Treasury Committee to be questioned by lawmakers ahead of his formal takeup of the BoE governorship. Carney's recent comments on revising the monetary policy framework will likely be a subject of questioning. With respect to the RBA, 20 out of 27 economists polled by Bloomberg (including DB) expect no change in the overnight cash rate.

Forex: GBP/USD eases from 1.5750 after US factory orders

The market resumes its daily bounce after a strong plunge on Friday to retest support at the 1.5700 psychological level. The GBP/USD has reached 1.5751, so far, just as US factory orders data was released. However, the market is pulling back after disappointing data.
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Forex Flash: GBP to weaken further – Rabobank

The sterling would face renewed pressure this week, as the BoE MPC would hold its monthly gathering. Although market consensus expects the lending benchmark and the Gilts purchases to remain...
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