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May 25, 2023Tentatively higher from an earlier low of 0.8648, EUR/GBP is up to 0.87 today, adding 6 pips, or 0.09%, to yesterday's closing price of 0.8693.
Germany GDP data will be released today at 06:00 UTC, with an expected improvement to -0.1 (previous figure was -0.4).
Uptick comes while some more positive signs for Euro-Pound are out as Germany Business Climate Index published yesterday at 08:00 UTC came out at 91.7, falling short of the 93 projections and continuing its decline from the previous 93.4 figure.
Meanwhile, United Kingdom Consumer Price Index released yesterday at 06:00 UTC with a figure of 8.7%, while the previous figure was 10.1%. United Kingdom CBI Industrial Trends Orders (May) came out at -17, while a consensus of analysts was expecting -19.
A look at other currencies also shows bullish price action as USD/SGD ascends 0.23% to trade around 1.3518. GBP/NZD is up 0.21%. USD/JPY increases 0.16% to trade around 139.59.
Positive indicators for Euro-Pound are expected going forward as United Kingdom Retail Sales is projected to outperform its last figure with 0.4%. It previously stood at -0.9%; data will be released tomorrow at 06:00 UTC.
Also worthy of note, Germany GDP is projected to outperform its last figure with -0.1. It previously stood at -0.4; data will be released today at 06:00 UTC.
Furthermore, the market is looking at United Kingdom Core Retail Sales is projected to outperform its last figure with 0.3%. It previously stood at -1%; data will be released tomorrow at 06:00 UTC.
Trading mostly sideways for 3 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 11.16% below this level.
