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April 20, 2023After closing at 0.8808 yesterday, EUR/GBP began today at 0.8804 with significant bullish sentiment driving EUR/GBP's price action higher. So far today, price action has drawn out a distinct 0.8804 to 0.8826 range.
Euro-Pound is currently trading at 0.8811 following the release of ECB Publishes Account of Monetary Policy Meeting data from the Euro Zone.
Meanwhile, Euro Zone Consumer Price Index released yesterday at 09:00 UTC with a figure of 6.9%, while the previous figure was 8.5%. Euro Zone Trade Balance (Feb) came out at 4.6 billion, while a consensus of analysts was expecting -22.3 billion. Spain 10-Year Obligacion Auction released today at 08:40 UTC with a figure of 3.509, while the previous figure was 3.401.
While Euro-Pound is up today, these currencies are lagging behind: USD/CHF decreases 0.34% to trade around 0.8943. EUR/AUD is down to 1.6241, losing 71 pips, after closing at 1.6313 in the preceding trading session. USD/JPY is down 45 pips from the beginning of the session and now trades around 134.14.
Furthermore, the market is looking at as things stand, upcoming United Kingdom Retail Sales data is projected to fall short of market expectations with newly published data of -0.5%, following on from the preceding figure of 1.2%. New data is set to be published tomorrow at 06:00 UTC.
Also worthy of note, United Kingdom Manufacturing PMI is expected tomorrow at 08:30 UTC. United Kingdom Composite PMI is expected tomorrow at 08:30 UTC.
Trading mostly sideways for 2 months. After setting a supportive marker at 0.7134 around 10 months ago, Euro-Pound is now trading 23.47% higher.
