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May 15, 2023EUR/GBP is grinding lower from 0.8716 to 0.868, shedding 36 pips (0.42%) today.
While price action maintains a negative bias, Industrial Production in Euro Zone fell short of market expectations (-2.5%) with a reading of -4.1%, continuing the decline from the previous figure of 1.5%.
In the meantime, negative performances are also seen in other pairs as USD/CAD is down 82 pips from the beginning of the session and now trades around 1.3466.
Though Euro-Pound has been dropping, other pairs have been performing better: GBP/JPY is up 0.88%. GBP/USD is up 0.62% to 1.2527.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United Kingdom Average Earnings Index +Bonus expected to decline to 5.8 while its preceding data was 5.9, data will be available tomorrow at 06:00 UTC.
Furthermore, United Kingdom Claimant Count Change (Apr) is scheduled for tomorrow at 06:00 UTC. Euro Zone ECB President Lagarde speech is scheduled tomorrow at 14:00 UTC.
Trading mostly sideways for 3 months. Euro-Pound is now trading 10.92% away from its significant high of 0.9785 first tested 7 months ago.
