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June 15, 2023In a range-bound session favoring short positions, EUR/GBP remains constrained in a 0.8541 to 0.8564 range and is currently trading close to 0.8552.
Euro Zone Deposit Facility Rate (Jun) is next today at 12:15 UTC.
Nonetheless, encouraging indicators for Euro-Pound published earlier when highly important Manufacturing Production data from United Kingdom beat analyst expectations of -0.4% with a reading of -0.3%.
Amid the market gloom, United Kingdom Monthly GDP 3M/3M Change (Apr) released yesterday at 06:00 UTC with a figure of 0.1, while the previous figure was 0.1. United Kingdom GDP (YoY) (Apr) came out at 0.5, while a consensus of analysts was expecting 0.6.
In the meantime, negative performances are also seen in other pairs as EUR/AUD is down to 1.5855, losing 78 pips, after closing at 1.5934 in the preceding trading session.
Positive performances can be seen by looking at other currencies as EUR/JPY gained 0.77% and is now trading at 152.76. GBP/JPY is up 0.8%.
Furthermore, Euro Zone Consumer Price Index is expected tomorrow at 09:00 UTC. Euro Zone Deposit Facility Rate (Jun) is expected today at 12:15 UTC. Euro Zone Interest Rate figure is projected at four. It previously stood at 3.75; data will be released today at 12:15 UTC.
Trading mostly sideways for 4 months. Having set a peak of 0.9785 around 8 months ago, Euro-Pound is now trading 12.59% below this level.
