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Slow start to a busy week -The BoJ, Fed and...>

FOREX
FOREX: Slow start to a busy week
-The BoJ, Fed and BoE meetings this week will be the focus for markets and, as
such, this morning's been a quiet one, with just Swedish GDP providing FX with
any direction. Q2 Swedish GDP grew twice as fast as expected (1.0% vs. Exp.
0.5%), sending EUR/SEK lower by 0.6% to touch the lowest levels since July 9th.
German regional CPI numbers have been non-directional and appear to confirm that
national German CPI numbers later today will be broadly inline with
expectations.
-CAD and AUD are the weakest in G10 FX despite slightly firmer commodity prices
and somewhat positive NAFTA headlines from White House adviser Hassett over the
weekend.
-Dollar trades mixed to slightly lower and well within last week's range, but
today's pending home sales numbers could provide short-term direction.
-Today's focus unlikely to be on data releases however, with BoJ's decision
overnight (seen as a 'live' meeting) the focal point for FX traders.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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