Asian equities ended up in the red overnight, as Crude maintained it's weakness. Aussie jobs were solid, but risk assets continued to be sold on the back of weak equities.
Looking forward: Central banks (BOE and ECB) are the main focus today. Today’s MPC announcements should be uneventful for GBP, with the February meeting & Inflation Report the real focus. However, recent macro data & commodity dynamics have opened the door to a potential about-face in McCafferty's hawkish stance. Should we see a 9-0 instead of the usual 8-1, I will be looking to add to Gbp shorts.
Regarding the ECB, we get the minutes of the December ECB meeting, which fell somewhat short of expectations. The market is still somewhat bearish on the Euro and I sense a risk of further "underwhelming" today. I will actively seek intraday opportunities on EurGbp or EurCad if that were the case.
Finally, we'll hear from FED's Bullard before the US open.
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