| 
March 02, 2023
After closing at 0.8869 yesterday, EUR/GBP began today at 0.8868 with significant bullish sentiment driving EUR/GBP's price action higher. So far today, price action has drawn out a distinct 0.8783 to 0.8896 range.
Euro-Pound is currently trading at 0.8875 following the release of ECB Monetary Policy Statement data from the Euro Zone.
Nevertheless, highly important Unemployment Change data from Germany beat analyst expectations of 9,000 with a reading of 2,000.
Meanwhile, Germany Consumer Price Index came out at 8.7%, while a consensus of analysts was expecting 8.5%. Euro Zone Core Consumer Prices released today at 10:00 UTC with a figure of 5.6%, while the previous figure was 5.3%.
Elsewhere, other currency pairs are also gaining ground as USD/SGD added 0.45% to its value, now trading at 1.3476.
While Euro-Pound is up today, these currencies are lagging behind: GBP/USD closed at 1.1949 (down 0.65%). EUR/USD is trading around 1.0606 (down 65 pips).
Furthermore, the market is looking at United Kingdom Composite PMI is expected tomorrow at 09:30 UTC. Germany Trade Balance (Jan) will be released tomorrow at 07:00 UTC. Spain Services PMI is expected tomorrow at 08:15 UTC.
As things stand, Euro-Pound is 24.33% away from a significant low of 0.7134 first set 8 months ago.
