2 Dec 2013
Flash: Sterling higher ahead of Autumn Statement - Societe Generale
Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the pound has broken through key chart levels this morning against EUR, CHF and USD.
Key Quotes
“We remain short EUR/GBP and long GBP/CHF. RSIs and momentum indicators in GBP/USD look stretched, but we also expect solid PMI data at 9:30 GMT and Thursday’s Autumn Statement is an opportunity for the Chancellor to make optimistic noises about the economic recovery.”
“I expect the BOE to go on pouring cold water on the idea of rates going up in 2014,but I also expect an investment bank economic department or two to forecast an ‘earlier than expected ’move.”
Key Quotes
“We remain short EUR/GBP and long GBP/CHF. RSIs and momentum indicators in GBP/USD look stretched, but we also expect solid PMI data at 9:30 GMT and Thursday’s Autumn Statement is an opportunity for the Chancellor to make optimistic noises about the economic recovery.”
“I expect the BOE to go on pouring cold water on the idea of rates going up in 2014,but I also expect an investment bank economic department or two to forecast an ‘earlier than expected ’move.”