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Deluge of CB Speakers Props Up Headline Risk

FOREX
  • GBP is among the better performers in G10, with early gains in GBP/USD coming ahead of the first appearance of Sajid Javid in parliament as the new Secretary of State for Health, and is expected to reaffirm his commitment to a normalization of COVID restrictions as quickly as possible. Early strength in GBP/USD saw the pair touch 1.3940 before retracing, although near-term gains continue to appear corrective.
  • Scandi currencies have diverged, with NOK among the weakest in G10 while SEK rises to the top of the pile. As expected, the Swedish PM has announced his resignation, prompting the speaker to seek a new government in lieu of another election.
  • There are no tier one data releases due Monday, keeping focus on the speakers slate. There are no fewer than 10 separate ECB speeches - the most important of which being ECB's Weidmann - one of the ECB members speculated to have voted against the PEPP programme at the most recent rate decision. BoE's Haldane and Fed's Williams, Barkin & Quarles are also due.

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