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June 24, 2023Yesterday at a glance: Euro-Pound dipped as low as 0.8535 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (0.8597) with EUR/GBP closing the day at 0.8569.
While price action maintains a negative bias, United Kingdom Manufacturing PMI came out at 46.2, while a consensus of analysts was expecting 46.8. United Kingdom CFTC GBP speculative net positions released yesterday at 20:30 UTC with a figure of 46,600, while the previous figure was 6,700. Euro Zone CFTC EUR speculative net positions came out at 144,600.
Euro-Pound's value drop coincided with the fact that AUD/USD lost 1.22% yesterday and closed at 0.676. EUR/USD is down to 1.0896, losing 62 pips, after ending the previous session around 1.0959.
Though Euro-Pound has been dropping, other pairs have been performing better: USD/SGD added 0.59% and closed around 1.3445 yesterday.
Furthermore, Euro Zone ECB's Schnabel speech scheduled to come out today at 13:15 UTC.
Trading mostly sideways for 4 months. As things stand, Euro-Pound is 12.15% away from a significant high of 0.9785, first set 8 months ago.
