26 Mar 2015
The Sterling should remain heavy - RBS
FXStreet (Bali) - RBS Economists are expecting a bounce in UK retail sales volumes on Thursday, also adding that BoE speakers due the same day should keep a dovish tone, which may weight on the GBP across the board.
Key Quotes
"The UK retail sales are due and our economists look for a 0.4% m/m bounce in retail sales volumes (incl. auto sales), matching the consensus estimate."
"Key BoE speakers have taken a more dovish tone of late, and with both Governor Carney and chief economist Haldane due to speak later in the week we remain bearish on GBP, both vs. the USD and on the crosses. EUR/GBP may have further upside as EUR shorts are squeezed."
Key Quotes
"The UK retail sales are due and our economists look for a 0.4% m/m bounce in retail sales volumes (incl. auto sales), matching the consensus estimate."
"Key BoE speakers have taken a more dovish tone of late, and with both Governor Carney and chief economist Haldane due to speak later in the week we remain bearish on GBP, both vs. the USD and on the crosses. EUR/GBP may have further upside as EUR shorts are squeezed."