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May 25, 2023Small gain for EUR/GBP at 0.8704 after ranging between 0.8665 and 0.8706 today.
United Kingdom Retail Sales data will be released tomorrow at 06:00 UTC, with an expected improvement to 0.4% (previous figure was -0.9%).
This move comes while some more positive signs for Euro-Pound are out as Germany GDP released earlier showed a marked improvement to -0.3 from the preceding data of -0.4, but fell short of the -0.1 figure forecast by a consensus of market analysts. Business Climate Index in Germany fell short of market expectations (93) with a reading of 91.7, continuing the decline from the previous figure of 93.4.
Meanwhile, United Kingdom Consumer Price Index came out at 8.7%, while a consensus of analysts was expecting 8.3%.
A look at other currencies also shows bullish price action as USD/SGD is up 0.42%. GBP/NZD rallies 0.48% to trade around 2.0327. EUR/NZD is up 0.59%.
Positive indicators for Euro-Pound are expected going forward as United Kingdom Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.9%; data will be released tomorrow at 06:00 UTC.
Also worthy of note, United Kingdom Core Retail Sales is projected to outperform its last figure with 0.3%. It previously stood at -1%; data will be released tomorrow at 06:00 UTC. United Kingdom Core Retail Sales is projected to outperform its last figure with -2.8%. It previously stood at -3.2%; data will be released tomorrow at 06:00 UTC.
Trading mostly sideways for 3 months. Euro-Pound is now trading 11.16% away from its significant high of 0.9785 first tested 7 months ago.
