Forex Flash: Where will volatility pick up? - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that EURUSD is unable to break above 1.35 for the time being, USDJPY has stalled at 91, and EURJPY is stuck with profit-takers at 122.
He sees that the ECB's MRO allocation was a little lower than some expected, at a non-event size of Euro 124bn and Spanish retail sales data were soft, falling 10.7% y/y. Elsewhere, Polish GDP growth came out in line with expectations at 2% last year, India cut rates overnight and Hungary's central bank is next up. He rounds up his summary by writing , "US consumer confidence data will be less exciting for the market than Q4 earnings. So far today, 9 S&P 500 companies have announced earnings, and only one has missed the market's estimate, according to Bloomberg."
He sees that the ECB's MRO allocation was a little lower than some expected, at a non-event size of Euro 124bn and Spanish retail sales data were soft, falling 10.7% y/y. Elsewhere, Polish GDP growth came out in line with expectations at 2% last year, India cut rates overnight and Hungary's central bank is next up. He rounds up his summary by writing , "US consumer confidence data will be less exciting for the market than Q4 earnings. So far today, 9 S&P 500 companies have announced earnings, and only one has missed the market's estimate, according to Bloomberg."
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