You can always find my weekly analysis in the FXRENEW Blog each week, along with articles and thought leadership pieces. My new Coaching Page is also online.
Here is this week's Game Plan:
The week might start with some GBP strength since BOE Dep Gov Ramsden said in an interview with the UK Times that the BOE may need to raise interest rates again sooner than he previously thought, if wage growth picks up early this year. This is significant because Ramsden was one of two MPC members who voted against the BOE hike in November.
Beyond this, markets will be focused on the new Fed President Powell’s testimony before the House on Tuesday. As usual, he will have to walk a tightrope balancing his words carefully in order to not spook markets and enhance volatility again.
On the data front, there is much tier-2 data out this week but no tier-1 releases. With US inflation at the forefront of market, the core PCE Price Index might gain more attention than usual this week. In Asia, China PMIs might be more influential in this context.
Going into the week I remain bullish on Jpy vs. Eur & Nzd in particular. Nzd closed the week in a weak stance so GbpNzd longs may be in the cards as well. In other markets, I have a bearish bias on Silver this week and a renewed bullish stance on the Dow.
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