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Trading Signals

Kicking off the session at 0.8784, Euro-Pound currency pair peaks at 0.8796

12 April 2023

EURGBP

EUR/GBP is rallying again to 0.8796 (up 16 pips), after erasing earlier gains.

United Kingdom BoE Gov Bailey speech is next today at 13:00 UTC.

Meanwhile, United Kingdom Mortgage Rate (GBP) (Mar) released yesterday at 09:30 UTC with a figure of 7.22, while the previous figure was 7.02. Fresh Retail Sales data released in Euro Zone matched analyst forecasts with a reading of -0.8% — a backwards step from its previous reading of 0.8%.

Other currencies are also rising as EUR/JPY is up 0.27% to 146.25. Having closed the previous session at 133.67, USD/JPY is up 0.12% today to currently trade at around 133.83. EUR/USD climbs 0.13% to trade around 1.0931.

Positive indicators for Euro-Pound are expected going forward as United Kingdom Manufacturing Production is projected to outperform its last figure with 0.2%. It previously stood at -0.4%; data will be released tomorrow at 06:00 UTC.

Also worthy of note, United Kingdom GDP expected to decline to 0.1% while its preceding data was 0.3%, data will be available tomorrow at 06:00 UTC.

Furthermore, the market is looking at Germany Consumer Price Index is expected tomorrow at 06:00 UTC.

Trading mostly sideways for 2 months. Euro-Pound is now trading 23.07% away from its significant low of 0.7134 first tested 9 months ago.

Market Summary

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