Economic Events: (GMT)
20:00 GBP BoE Gov King Speaks
Bank of England (BOE) Governor Mervyn King (July 2003 – June 2013) is to speak. As head of the BOE’s Monetary Policy Committee (MPC) which controls short term interest rates, King has more influence over sterling’s value than any other person. Traders scrutinize his public engagements for clues regarding future monetary policy. His comments may spark a short-term positive or negative trend.
There are no economic events scheduled in the US
GBP/USD Fundamental Analysis Jan. 24, 2012, Forecast
Analysis and Recommendations:
The GBP/USD is currently trading at 1.5586. The pair opened at 1.5565 reached a high of 1.56.02 and have dropped down to the median point holding there.
So we have the USD falling on against all trading partners as a deal with Greece looks like it might be taking form.
Again, there have been promises of deal with creditors in Greece, but at this writing it is not clear if there is a deal or isn’t a deal, but the EU leadership seems to think that a deal is doable.
IMF Christine Lagarde said euro zone governments should incorporate the region’s exiting bailout fund, the European Financial Stability Fund, into the European Stability Mechanism, increasing the size of the permanent bailout fund in order to restore investor confidence in the region.
The pair will continue to hold tight as there is little to encourage much action elsewhere.
Upcoming Govt Bond Sales Dates
Jan 23 12:00 Norway Details bond auction on Jan 30
Jan 24 09:30 Netherlands Eur 1.5-2.5bn Jan 2013 & Jan 2042 DSL
Jan 24 09:30 Spain Auctions 3 & 6M T-bills
Jan 24 16:30 Italy Details CTZ/BTPei on Jan 26 & BOT on Jan 27 &
Jan 24 18:00 US Auctions 2Y Notes
Jan 25 10:10 Sweden Nominal bond auction
Jan 25 10:30 Germany Eur 3.0bn 3.25% Jul 2042 Bund
Jan 25 16:30 Italy Details BTP/CCTeu on Jan 30
Jan 25 18:00 US Auctions 5Y Notes
Jan 26 10:10 Italy Auctions CTZ/BTPei
Jan 26 18:00 US Auctions 7Y Notes
Jan 27 10:10 Italy BOT auction
Originally posted here
