EUR/GBP halts two days of losses, trading around 0.8420 during the Asian session on Tuesday.
EUR/GBP gains ground ahead of the release of GDP data from the Eurozone and Germany . Germany ’s CPI is forecasted to rise by 0.2% MoM in July, compared to June’s 0.1% reading. UK Chancellor Rachel Reeves delivered a series of spending cuts in her first Parliament statement. The Euro appreciates ahead of Gross Domestic Product data from the Eurozone and Germany for the second quarter on Tuesday. Germany will also release the Consumer Price Index for July.
The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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EUR/GBP holds positive ground above 0.8450 ahead of Eurozone inflation dataThe EUR/GBP cross trades in positive territory for the fifth consecutive day around 0.8490 during the early European session on Tuesday.
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EUR/GBP holds gains above 0.8400 after ECB decides to leave rates unchangedEUR/GBP extends its gains for the second successive session, trading around 0.8420 during the European hours on Thursday.
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EUR/GBP remains steady above 0.8400 after UK Retail SalesEUR/GBP holds mild gains around 0.8420 during the Asian session following the release of UK Retail Sales data on Friday.
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EUR/GBP moves above 0.8450 amid higher-than-expected German Trade BalanceEUR/GBP edges higher to near 0.8460 during the early European session on Monday.
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EUR/GBP trades with mild losses below 0.8500 ahead of ECB’s Lagarde speechThe EUR/GBP cross trades on a softer note around 0.8470 during the early European session on Wednesday.
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