The EUR/GBP cross consolidates its recent losses around the mid-0.8600s during the Asian session on Thursday. Market players await the German Trade Ba
EUR/GBP oscillates around the 0.8647-0.8661 region in a narrow trading band on Thursday. Eurozone Retail Sales came in at -2.1% YoY in August vs.-1%, worse than expectation. UK’s S&P Global/CIPS Composite PMI and Services PMI for September came in above the market consensus. Traders will monitor the German Trade Balance for August due later on Thursday. lance data for August ahead of the European Central Bank official’s speech later on Thursday. The cross currently trades near 0.
On Wednesday, ECB Governing Council member Mario Centeno said that inflation in the Eurozone declined faster than it was rising and that the central bank may anticipate the rate cycle to be finished by now, while ECB Vice President Luis de Guindos remarked that the ECB would continue to take a data-driven approach. On the other hand, the stronger UK economic data lifts the British Pound against the Euro.
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