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5 Jun 2014
BoE to remain on hold - Societe Generale
FXStreet (London) - Kit Juckes, Global Head of Currency Strategy at Societe Generale is expecting the Bank of England to remain on hold today, and for several months to come too.
Key Quotes
"The UK MPC will announce before the ECB, and is universally expected to remain on hold for several more months. We have already see a bounce in German factory orders for April, and we will get retail PMIs in Germany and France."
"The US releases unemployment claims but the focus there, will be on tomorrow's labour market data. Yesterday's US ISM/PMI data are consistent with steady growth and a Q2 recovery. Trade data are a bit worrying if they paint a picture (along with Canadian data also reported) of weakening demand in emerging markets, but the Beige Book also painted a cheerful picture of rising house prices and stronger auto sales amidst an improving labour market"
Key Quotes
"The UK MPC will announce before the ECB, and is universally expected to remain on hold for several more months. We have already see a bounce in German factory orders for April, and we will get retail PMIs in Germany and France."
"The US releases unemployment claims but the focus there, will be on tomorrow's labour market data. Yesterday's US ISM/PMI data are consistent with steady growth and a Q2 recovery. Trade data are a bit worrying if they paint a picture (along with Canadian data also reported) of weakening demand in emerging markets, but the Beige Book also painted a cheerful picture of rising house prices and stronger auto sales amidst an improving labour market"