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What to expected from today's BoE? - SocGen

FXStreet (Bali) - According to Societe Generale, today's BoE MPC is expected to stay on hold but vigilant on China.

Key Quotes

"In today’s monetary policy meeting, the Committee should leave policy unchanged, while closely monitoring the Chinese situation."

"The underlying concern in the markets is that the slowdown in China might turn into a hard landing and the evidence either to refute or to confirm that hypothesis will only come slowly so the Bank is likely to remain vigilant on this topic for some time yet."

AUD/USD: Upside likely to be capped at 0.7270/0.7350 - SocGen

Research Team at Societe Generale, suggest that after confirming H&S last year, AUD/USD looks to continue downtrend to 0.6250/0.60, projected target for the pattern and also the 76.4% retracement of up move during 2001 and 2011 with intermittent targets at 0.6750 and 0.65. Short term upside is likely to be capped at 0.7270/0.7350 while 0.75 will be key level.
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