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Forex Flash: Risk appetite should remain firm early in the week - BNZ

By FXstreet.com,  July 01, 2012, 10:11:00 PM EDT

FXstreet.com (Barcelona) - Looking ahead, risk appetite looks set to remain on the ascendancy early in the week, says Mike Jones, currency analyst at Bank of New Zealand. While the weekend's Chinese PMI printed its lowest level in 8 months still came above expectations, which "should help assuage, for now, lingering fears of a Chinese hard landing" Mike notes.

Investors are also hopeful this week's slew of central bank meetings will deliver more stimulus, the BNZ analyst notes: "The RBA tomorrow should keep rates unchanged at 3.5% but remain on an easing bias. In contrast, we expect the Bank of England (Thursday) to lower rates 25bps to 0.25% and increase asset purchases £50b to £375b. Some combination of easing measures is also expected from the ECB (Thursday). Currently, we expect just a 25bps rate cut. But there is some chance of more (50bps) as well as the announcement of extra liquidity measures (such as another LTRO). "




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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