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6 Aug 2014
BoE unlikely to be an event - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the conditions surrounding the UK’s data releases and movements in the pound.
Key Quotes
“The typically volatile industrial and manufacturing production releases were disappointing; but both were up 0.3%m/m; while Halifax house prices were reported up 1.4%m/m and 10.2% 3mths/yr."
"Accordingly the data was mixed leading into tomorrow’s BoE meeting, which is expected to provide no surprise for GBP this week but the minutes could prove far more interesting, providing insight into how close the MPC is to entering a tightening cycle. Scotland’s referendum on independence (scheduled for September 18th) is also proving an important focus."
Key Quotes
“The typically volatile industrial and manufacturing production releases were disappointing; but both were up 0.3%m/m; while Halifax house prices were reported up 1.4%m/m and 10.2% 3mths/yr."
"Accordingly the data was mixed leading into tomorrow’s BoE meeting, which is expected to provide no surprise for GBP this week but the minutes could prove far more interesting, providing insight into how close the MPC is to entering a tightening cycle. Scotland’s referendum on independence (scheduled for September 18th) is also proving an important focus."