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June 05, 2023Slightly weaker but mostly flat: EUR/GBP is currently trading at 0.86 as it maintains an active range between 0.8593 and 0.8607.
United Kingdom Composite PMI is next today at 08:30 UTC.
In the meantime, negative performances are seen in other pairs, after ending Friday's session at 1.0712, EUR/USD lost 16 pips and is trading around 1.0696.
Though Euro-Pound has been dropping, other pairs have been performing better: USD/CHF is up 0.19%. USD/SGD improves 0.11% to trade around 1.351.
Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United Kingdom Construction PMI data is projected to fall short of market expectations with newly published data of 51, following on from the preceding figure of 51.1. New data is set to be published tomorrow at 08:30 UTC.
Furthermore, United Kingdom Composite PMI figure is projected at 53.9. It previously stood at 53.9; data will be released today at 08:30 UTC. Euro Zone Retail Sales is projected to outperform its last figure with 0.2%. It previously stood at -1.2%; data will be released tomorrow at 09:00 UTC.
Trading mostly sideways for 3 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 12.1% below this level.
