The FX Research team at TD Securities expects the Polish central bank (NBP) to leave rates on hold at its meeting later this week.

Key Quotes

“In line with the almost unanimous consensus we expect the NBP to keep its policy rate on hold on Friday at 1.5%, in spite of inflation running at -0.7% Y/Y in January”.

“However, according to the minutes of the February MPC meeting, the fact that inflation has been negative for longer than expected is seen as being “driven mainly by factors beyond the influence of domestic monetary policy,” i.e. principally low commodity prices”.

“With the economy likely to continue growing at an above 3% rate this year and the recent recovery in commodity prices, there is little pressing need for the NBP to change rates”.

“However, with the ECB expected to ease this Thursday, the possibility of the NBP cutting rates on Friday in response cannot be completely ruled out. However, we expect the NBP to wait until the April or possibly May meeting before cutting rates”.

The FX Research team at TD Securities expects the Polish central bank (NBP) to leave rates on hold at its meeting later this week…

(Market News Provided by FXstreet)

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Strategist at Rabobank Piotr Matys sees the Turkish Lira in rangebound trading vs. the greenback below the key handle at 3.00.

Key Quotes

“We maintain our view that USD/TRY is likely to consolidate its gains below the all-time high set at 3.0752, due to the positive outlook for the Turkish economy and significant repricing of market expectations regarding the path of Fed’s tightening”.

“It is encouraging that Turkish stocks are outperforming core markets so far this year with the ISE100 up almost 5% YTD, which reflects growing demand for local assets”.

Strategist at Rabobank Piotr Matys sees the Turkish Lira in rangebound trading vs. the greenback below the key handle at 3.00…

(Market News Provided by FXstreet)

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The Canadian dollar is once again picking up pace vs. its American peer on Tuesday, sending USD/CAD to re-visit the boundaries of 1.3300 the figure.USD/CAD lower on oil gains, ignores dataCAD is now trading on a firmer note following the better sentime…

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The latest Reuters poll shows Bank of England rate hike is not seen happening before Q1 2017. Respondents have now pushed back its first hike now to Q1 2017 from Q4 2016. 45% see a hike by end of 2016 vs 55% in Jan poll. Respondents also said BOE rates…

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USD/JPY: 111.00 (USF 605m) 112.00 (253m) 113.00 (1.51bln) 113.85-90 (370m) 114.00 (555m) 115.00 (645m) EUR/USD: 1.0800 (EUR 1.27bln) 1.0900 (831m) 1.0930-35 (260m) 1.1000 (338m) 1.1010-15 (400m) 1.1050 (314m) 1.1100 (438m) GBP/USD: 1.4090 (GBP 3…

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