Sterling awaits further key events - Rabobank

By FXstreet.com | July 23, 2014 AAA

FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist at Rabobank explained that we have key data events this week left for GBP.



Key Quotes:



“Tomorrow the market will have the benefit of the UK June retail sales data release and on Friday the advance release of Q2 GDP will be reported. All these events suggest that sterling volatility could increase through to the end of the week”.



“While we now find ourselves a little more dovish than the market consensus we maintain our long standing preference to sell EUR/GBP on rallies. On our view, the market may have got a little ahead of itself in pricing in BoE rate hikes”.



“However, irrespective of exactly when the BoE first hikes, it is bound to be ahead of the very dovish ECB”.



“We expect EUR/GBP to trend lower towards 0.77”.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  4. GBP/USD Daily Outlook - September 19
    Investing

    GBP/USD Daily Outlook - September 19

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center