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Forex Flash: Carney Testimony in focus - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Mr Carney’s testimony to the Treasury Select Committee isn’t likely to see fireworks today but will be closely watched nonetheless.

He writes, “The Governor-elect will doubtless want to get to know the MPC members before pushing for radical change, but the Chancellor is pressing for more monetary easing in one form or another, and the risk is that any sign of dovish bias will be picked up in the press and markets and GBP will start to weaken again. Long EUR/GBP seems a low-ish risk trade today. UK industrial production and trade data are also due.”

Forex Flash: AUD/USD bearish, capped at 1.0486/90 - Commerzbank

Having broken down through support at 1.0345 (December low), Commerzbank analysts continue to view the AUD/USD market as a top and look for a slide to the 1.0149 October 2012 low. “We do have a support line drawn from the 2009 lows at 1.0280, but this connects only 2 points and should only act as temporary support”, wrote analyst Karen Jones, allowing for a small rebound very near term. “Rallies are expected to remain capped by 1.0486/90, the 18th Jan low and 27th November high, which is a short term pivot and while capped here attention will remain on the downside. On the upside, there is a short term resistance line at 1.0432 “which is likely to offer additional resistance and the previous Dec low should act as immediate resistance”, she added.
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Forex Flash: What to do with EUR/USD? – UBS and Commerzbank

The euro has jumped to the boundaries of 1.3580 on Thursday, ahead of the ECB gathering due later. It’s worth noting that market consensus is unanimously expecting the central bank...
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