News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
EUR/GBP Eyes July Low Ahead of ECB Rhetoric, BoE Testimony

EUR/GBP Eyes July Low Ahead of ECB Rhetoric, BoE Testimony

David Song, Strategist

EUR/GBP remains at risk of giving back the rebound from the July low (0.6930) amid the deviating paths for monetary policy.

EUR/GBP

EUR/GBP Daily Chart

Chart - Created Using FXCM Marketscope 2.0

Expectations for a major announcement at the ECB’s December 3 interest rate decision may trigger a further decline in the exchange rate especially as the BoE largely stays on course to normalize monetary policy, and the euro-pound may continue to search for support in the week ahead should the Governing Council show a greater willingness to further embark on its easing cycle. At the same time, we may see BoE Governor Mark Carney prepare U.K. households and businesses for higher borrowing-costs as the central bank head is scheduled to testify on the quarterly inflation report next week, and the sterling may continue to outperform against its European counterpart should the fresh comments boost interest rate expectations for the U.K.

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES