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Trading on Carney’s speech

The Bank of England’s new Governor Mark Carney will speak today at 11:45 GMT.  

RBS: “This week, with Carney expected to do his best to jawbone UK rates lower, GBP/USD may struggle to maintain recent positive momentum. With last week’s flash euro-zone PMIs also pointing to ongoing improvement in the euro area economy and the ECB comments that recent developments leave further rate cuts looking unlikely, EUR/GBP may have some upside.”

HSBC expects dovish comments and entered a macro tactical short GBP/USD position with a target at $1.5050, and a stop at $1.5820. Credit Agricole expects EUR/GBP to rise to 0.8650 today.  

Chart. Daily GBP/USD

Chart. Daily EUR/GBP

GBP
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