0.856
Today
+0.11%
5 Days
+0.15%
1 Month
+0.68%
6 Months
-2.04%
Year to Date
-1.80%
1 Year
-0.86%
Opening Price
0.854Previous Closing Price
0.855The Euro (EUR) nudges higher against the British Pound (GBP) on Tuesday, buoyed by positive German economic sentiment figures while, in the UK, June’s employment report failed to convince investors.
ING’s Chris Turner reports a firmer EUR/GBP after UK labour data, with economist James Smith highlighting a cool jobs market and minimal wage pressures, implying little impetus for Bank of England hikes this year.
The EUR/GBP cross posts modest gains near 0.8550 during the early European trading hours on Tuesday. The British Pound (GBP) attracts some sellers against the Euro (EUR) following the UK employment data. Traders brace for the ZEW Survey from Germany and the Eurozone later on Tuesday.
EUR/GBP is holding a narrow band around the mid-0.8500s with little conviction in either direction. At the time of writing, the cross is close to flat on the day.
Chris Turner at ING notes that a busier United Kingdom (UK) data calendar, including jobs, wages and July Consumer Price Index (CPI), could challenge the 55bp of Bank of England (BoE) tightening still priced in.
The Euro (EUR) holds minor gains against the British Pound (GBP) for the third consecutive day on Monday, favoured by European Central Bank (ECB) - Bank of England (BoE) monetary policy divergence.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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The upside prevails as long as 0.8541 is support, with 0.8560 and 0.8565 as targets
below 0.8541, expect 0.8533 and 0.8528.
The upside prevails as long as 0.8541 is support, with 0.8560 and 0.8565 as targets
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