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May 27, 2023Yesterday at a glance: Euro-Pound dipped as low as 0.8675 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (0.8703) with EUR/GBP closing the day at 0.8686.
On the flip side, data for United Kingdom Retail Sales published yesterday at 06:00 UTC came out at 0.5%, beating projections of 0.4% and showing improvement over the preceding figure of -1.2%.
While price action maintains a negative bias, United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 11,600, while the previous figure was 12,600. Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 173,700, while the previous figure was 187,100.
Though Euro-Pound has been dropping, other pairs have been performing better: GBP/NZD is trading around 2.0417 after ending yesterday's session at 2.0311 (up 0.52% today). GBP/JPY went up by 0.64% yesterday, and closed at 173.63. USD/JPY moves up 0.41% yesterday and closed at 140.05.
Trading mostly sideways for 3 months. As things stand, Euro-Pound is 11.06% away from a significant high of 0.9785, first set 7 months ago.
