All eyes on Carney as traders await UK inflation report on Wednesday

<p>After a busy end to last week, with the shock rate cut from the ECB on Thursday, the unexpected rise in GDP and the non-farm […]</p>

After a busy end to last week, with the shock rate cut from the ECB on Thursday, the unexpected rise in GDP and the non-farm payrolls for the US, we see the USD gain momentum with large falls in EUR, GBP and AUD. A very quiet open in Asia with hardly any ranges at all, possibly due to the US bank holiday today, even though a majority of the markets are still trading today.

No data to look out for today and with a bank holiday in the US, it could stay quite like this for the rest of the day. This week the UK is much the main focus, with inflation data due out tomorrow and then the inflation report from Carney on Wednesday. More talk of forward guidance, with the market looking like it is pricing in a rate rise earlier than expected. These will be crucial data and comments to hear.

 


EUR/USD

Supports 1.3340 1.3295 1.3170 | Resistance 1.3400 1.3450 1.3500

 


USD/JPY

Supports 98.15 98.00 97.80 | Resistance 99.25 99.40 100.00

 


GBP/USD

Supports 1.5950 1.5905 1.5890 | Resistance 1.6060 1.6125 1.6170

 

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