Quiet start for currencies - Absent of any....>

FOREX: Quiet start for currencies

- Absent of any further macro cues following the central bank deluge Thursday,

markets have traded sideways for much of the Friday session and that may remain

the case with little US data on the docket.

- GBP remains a touch weak after the BoE decision yesterday, with GBP/USD in a

holding pattern close to the Thursday lows. Any further weakness will put the

pair at the lowest levels since early June, with the 50-dma possibly being

instrumental at today's weekly close. Today the level sits at $1.2427. A decent

bounce in crude oil prices (WTI and Brent both higher by 3%) is behind modest

AUD, CAD strength today, with both currencies higher against all others in G10

so far. Moves follow OPEC appearing to finalise output deals late Thursday.

- The Russian central bank rate decision is due at 1130BST/0630ET, with the bank

seen trimming rates by 100bps to 4.5%.

- Canadian retail sales are the sole data release left this week. More focus

will likely be paid to the Fed schedule today, with Powell, Mester, Quarles and

Rosengren all due to appear.