SaxoTV

Hardy: Sterling could fall further and here's why

892 views
November 24, 2015 aud, aud usd, audusd, aussie, aussie dollar, aussie economy, aussiedollar, australia, australia economy, australian central bank, australian dollar, australian economy, australian reserve bank, dollar, dollar index, dollar strength, dollar trading, ecb, ecb meeting, ecb news, ecb policy, ecb rate decision, ecb rates, employment, employment figures, employment rate, fed, fed chairman, fed meeting, fed policy, fed rates, federal, federal reserve, federalreserve, foreign exchange, forex, forex market, forex markets, forex trading, fx, fx crosses, fx forex, fx market, fx markets, fx options, fx strategy, fx trade, fx trading, gbp, gbp usd, gbpusd, jobs, jobs data, jobs market, nfp, nfps, non farm, non farm payrolls, non farms, non-farm payrolls, nonfarm, nonfarm payroll data, nonfarm payrolls, nonfarmpayrolls, nonfarms, pce, pce inflation, pound, pound dollar, pound euro, pound sterling, saxo bank, saxo tv, sterling, sterling dollar, sterling exchange rate, sterling forex, sterling risk, sterling strength, sterling trading, trading, tradingfloor.com, us dollar, us dollar bulls, us dollar index, us fed, us federal reserve, us federal reserve monetary policy, usd, usd index
Sterling has been falling since last week particularly against the dollar. But Saxo's John Hardy explains why he thinks cable could move lower, particularly if there is good data out of the United States next week.

And it's those calendar events that are so important, says Hardy. Ahead of US Thanksgiving on Thursday, there is the PCE inflation index out on Wednesday, which is the Federal Reserve's preferred measure of inflation. If it comes in low, he says we could see some USD consolidation. 

Next Wednesday the chair of the Fed, Janet Yellen, makes a major speech, which John says may provide some major signals. On Friday the nonfarm payroll figure is released which if strong (like October's) could see the dollar move even higher. In between these two events is the European Central Bank meeting at which ECB president Mario Draghi is expected to extend easing.

Finally, John explains why he has been buying the Aussie dollar. He discusses key levels and what to look out for.