The so called Super-Thursday tag resurfaces but to what purpose 2 Feb
Yes folks the S-T hyperbole has been in fully-cranked up mode by many but this writer believes it to be merely attention-seeking, page-view grabbing nonsense.
To repeat what I wrote in an earlier post for the benefit those who don't have to get up as early as I do each day:
"As for the BOE, and so-called ( aka hyped) Super Thursday, our man Down Under has put this preview together. I concur that we can expect the BOE to put in an upbeat performance but markets will have factored much of that in. Higher inflation leads to speculation of higher interest rates but as we see across the pond CBs are in no rush to do that right now amidst the global uncertainty.
Robots will react today though on the headlines and we can expect some knee-jerk price action."
Since that post we've seen GBPUSD have a quick look above 1.2700 before running out of steam and now 1.2644 as I type with GBPJPY a prime mover again down to 141.98 and EURGBP holding 0.8500 to post 0.8548.
It could be that the sell-off I was anticipating after the Carney & Co show has already been delivered but I remain a GBP rally seller, not just GBPUSD ( which admittedly provides limited value as USD sellers re-appear) but GBPJPY also, and I remain a EURGBP dip buyer as per on-going posts and again this morning.
We'll get that knee-jerk opportunity for intra-day traders but for the rest of what the BOE deliver it'll be largely guesswork with Brexit still to be triggered. Let's face it, they don't have a great track record on forward guidance anyhow.
You can watch the Carnester's presser here from 12.30 GMT