Focus Turn to UK and US GDP after G20, More Dollar Upside Ahead? Markets were generally cautiously towards the end of last week as investors awaited G20 meeting. Though, some underlying developments are worth noting. Firstly, dollar did seem to found a bottom as we anticipated, with expectation gradually shifting from an aggressive one-off QE II program to a gradual one with an open end. Secondly, Sterling was noticeably the weaker major currency as there were growing believe that the government's austerity plan would need to be accompanied by another round of quantitative easing from BoE. Thirdly, Canadian dollar was also noticeably weak after BoC turned somewhat dovish and revised down growth forecasts. Fourthly, gold is possibly in progress of a deep near term correction to 1300 and below and has been providing some support to dollar and yen. Full Report Here... | 
 |
No comments:
Post a Comment