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June 08, 2023Tentatively higher from an earlier low of 0.8583, EUR/GBP is up to 0.8609 today, adding 12 pips, or 0.14%, to yesterday's closing price of 0.8597.
At the same time, new Euro Zone GDP data fell short of the zero projected by analysts with a reading of -0.1 while failing to improve upon the previous reading from last month (-0.1). Euro Zone GDP published today at 09:00 UTC came out at 1%, falling short of the 1.2% projections and continuing its decline from the previous 1.8% figure. France Non-Farm Payrolls (QoQ) (Q1) came out at 0.3, while a consensus of analysts was expecting 0.2.
Other currencies are also rising as NZD/USD is up 0.49% to 0.6071. EUR/USD is up 0.26%.
At the same time, after ending yesterday's session at 2.059, GBP/NZD lost 62 pips and is trading around 2.0527.
The market is looking forward to the release of new data: Euro Zone ECB's De Guindos speech scheduled to come out tomorrow at 08:00 UTC. Euro Zone ECB's Enria speech is scheduled tomorrow at 08:30 UTC. United Kingdom CFTC GBP speculative net positions is scheduled for tomorrow at 20:30 UTC.
Trading mostly sideways for 4 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 12.15% below this level.
