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USDCAD Resisting Modest Broader USD Weakness


Price Signal Summary: USDCLP Heading South

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A few central bank decisions of....>

EMERGING MARKETS: A few central bank decisions of note this week outside of the
- National Bank of Poland (Weds, usually around 1300BST/0800ET): Rates expected
unchanged at 1.50%. Despite a motion being raised to cut rates at the September
meeting, policy is expected unchanged. Recent MPC comments support this, with
Zyzynski most recently stating he's "ruling out a rate cut now". With growth
still firm and inflation at multi-year highs, MPC members have made it clear
that policy changes are unlikely without either a positive or negative economic
- Reserve Bank of India (Friday, 0715BST/0215ET): 25bps cut expected to both
repo and reverse repo rates. The majority of analysts see a 25bps cut, but some
see cuts of as much as 40bps this Friday. Slipping core inflation numbers give
the bank ample justification to trim rates. They are also seen cutting growth
forecasts for 2020 - the depth of these downgrades could signal further policy
accommodation beyond this month and will be a focus for markets beyond the
initial decision.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |
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