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February 23, 2023
Tentatively higher from an earlier low of 0.8792, EUR/GBP is up to 0.8819 today, adding 19 pips, or 0.22%, to yesterday's closing price of 0.88.
Euro-Pound upside coincides with further encouraging market factors as Germany Business Climate Index released earlier showed a marked improvement to 91.1 from the preceding data of 90.1, but fell short of the 91.4 figure forecast by a consensus of market analysts.
At the same time, Euro Zone Consumer Price Index released today at 10:00 UTC with a figure of 8.6%, while the previous figure was 9.2%. Germany Consumer Price Index came out at 8.7%, while a consensus of analysts was expecting 8.7%.
Elsewhere, other currency pairs are also gaining ground as having closed the previous session at 0.93, USD/CHF is up 0.42% today to currently trade at around 0.9338.
While Euro-Pound is up today, these currencies are lagging behind: GBP/NZD is down 68 pips from the beginning of the session and now trades around 1.9285. After ending yesterday's session at 162.47, GBP/JPY lost 62 pips and is trading around 161.84.
The market is looking forward to the release of new data: Germany GDP figure is projected at -0.2. It previously stood at -0.2; data will be released tomorrow at 07:00 UTC. Germany GfK Consumer Climate (Mar) will be released tomorrow at 07:00 UTC. Germany GDP figure is projected at 0.5%. It previously stood at 0.5%; data will be released tomorrow at 07:00 UTC.
Having set a peak of 0.9785 around 4 months ago, Euro-Pound is now trading 10.07% below this level.
