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Flash: EUR mixed as GBP watches Carney entry - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the EUR looks mixed while, GBP is poised for Carney´s arrival at the BoE.

He begins by commenting that news flow for the EUR was mixed on Wednesday with the OECD urging the ECB to do more but German May CPI numbers came in warmer than expected while jobless claims came in higher than expected. He adds, “For today, the slew of EZ confidence indicators may continue to sway market expectations towards the ECB policy stance.” In the interim, he expects the pair to remain top heavy with the 55-day MA (1.2979) expected to cap while initial support is expected towards 1.2830 before 1.2800.

Moving to GBP/USD, he writes, “Our view remains largely unchanged and with dollar resilience set against market concerns ahead of the imminent arrival of the new BOE governor Carney in July, the cable may remain suspicious of excessive upside against the dollar for now.” He feels that the 1.5000 area may support in the near term although any upticks towards the 55-day MA (1.5269) may be met with selling interest.

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