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April 12, 2023EUR/GBP goes up to 0.8786 after dipping down to 0.8762 earlier.
United Kingdom BoE Gov Bailey speech is next today at 13:00 UTC.
Meanwhile, United Kingdom Mortgage Rate (GBP) (Mar) came out at 7.22, while a consensus of analysts was expecting seven. Fresh Retail Sales data released in Euro Zone matched analyst forecasts with a reading of -0.8% — a backwards step from its previous reading of 0.8%.
A look at other currencies also shows bullish price action as EUR/JPY moves up 0.1% to trade around 146.
Other currencies are showing mixed performance as USD/JPY trades with no major change, around 133.75. GBP/JPY moves 0.07% to trade around 166.18.
Positive indicators for Euro-Pound are expected going forward as United Kingdom Manufacturing Production is projected to outperform its last figure with 0.2%, having previously been at -0.4%. The figure will be published tomorrow at 06:00 UTC.
Also worthy of note, as things stand, upcoming United Kingdom GDP data is projected to fall short of market expectations with newly published data of 0.1%, following on from the preceding figure of 0.3%. New data is set to be published tomorrow at 06:00 UTC.
Furthermore, the market is looking at Germany Consumer Price Index is expected tomorrow at 06:00 UTC.
Trading mostly sideways for 2 months. As things stand, Euro-Pound is 23.07% away from a significant low of 0.7134 first set 9 months ago.
