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May 12, 2023Late into the session, EUR/GBP loses 23 pips (0.25%), currently trading at 0.87.
United Kingdom's GDP new data released of 0.2% below its previous figure.
Highly important GDP data from United Kingdom beat analyst expectations of 0.1% with a reading of -0.3%. Fresh GDP data released in United Kingdom matched analyst forecasts with a reading of 0.2% — a backwards step from its previous reading of 0.6%.
In contrast, positive data for Euro-Pound reported earlier when data for United Kingdom Manufacturing Production published today at 06:00 UTC came out at 0.7%, beating projections of -0.1% and showing improvement over the preceding figure of 0.1%.
In the meantime, negative performances are also seen in other pairs as NZD/USD is down to 0.6224, losing 76 pips, after closing at 0.63 in the preceding trading session.
Positive performances can be seen by looking at other currencies as GBP/NZD shoots up 1.28% to trade around 2.0107. EUR/NZD added 1% to its value, now trading at 1.7498.
Furthermore, United Kingdom NIESR Monthly GDP Tracker scheduled to come out today at 13:00 UTC. United Kingdom CFTC GBP speculative net positions will be released today at 20:30 UTC. Euro Zone CFTC EUR speculative net positions is expected today at 20:30 UTC.
Trading mostly sideways for 3 months. Having set a peak of 0.9785 around 7 months ago, Euro-Pound is now trading 10.85% below this level.
