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.

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
EUR/USD
Bullish
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
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
Wall Street
Bearish
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • ECB said to expect difficult June decision on bond-buying pace, ECB views said to differ on economic optimism and need for caution - ECB sources $EUR
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.49%, while traders in Germany 30 are at opposite extremes with 68.53%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/coX4Ww1pRP
  • 🇷🇺 Interest Rate Decision Actual: 5% Expected: 4.75% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.50% Gold: 0.13% Silver: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DyTN6Z1PLU
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.34% 🇪🇺EUR: 0.34% 🇬🇧GBP: 0.33% 🇨🇦CAD: 0.18% 🇳🇿NZD: 0.15% 🇯🇵JPY: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JKnNu9wyXr
  • Heads Up:🇷🇺 Interest Rate Decision due at 10:30 GMT (15min) Expected: 4.75% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2021-04-23
  • ECB's De Cos - Including transient and mild inflation overshoots in monetary policy strategy is expected to have only a minor impact on inflation expectations - A point plan of exactly 2% would be a reasonable option (current inflation guidance = below, but close to 2%)
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.20% Wall Street: 0.13% France 40: -0.26% Germany 30: -0.31% FTSE 100: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/OEqPvEZrZu
  • 🇬🇧 Markit/CIPS Manufacturing PMI Flash (APR) Actual: 60.7 Expected: 59 Previous: 58.9 https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Markit/CIPS UK Services PMI Flash (APR) Actual: 60.1 Expected: 59 Previous: 56.3 https://www.dailyfx.com/economic-calendar#2021-04-23
EUR/GBP Hits a Monthly High on Pound Weakness

EUR/GBP Hits a Monthly High on Pound Weakness

Benjamin Spier, Technical Strategist

The Pound’s weak performance in today’s Forex markets has led to Euro reaching a new monthly high in the EUR/GBP cross.

There were few driving comments or economic releases from the Euro-zone during today’s session, leading the Euro to stay in a 40-point range against the US Dollar. However, Pound weakness was largely caused by a disappointing UK employment release for the three month period ending in February.

ECB member Praet spoke today and said not to expect too much from the ECB on crisis resolution. Cyprus Finance Minister Georgiades said there is no way his country will leave the Euro, but he added that capital controls will remain for longer. Neither comment seemed to have significant effect on Euro trading.

In releases from the UK, the BoE was reported to have voted 6-3 against adding to its asset purchase target. While the most recent employment releases for March were better than expected, the 7.9% employment rate for the December to Febraury period placed pressure on the Pound.

In Japan, PM Abe again tested a G20 warning against officials talking about local currency levels, as Abe said a strong Yen is being corrected. Japan consumer confidence for March was reported at a five year high, but still disappointed expectations.

EUR/GBP is trading around 0.8620 at the time of this writing. Resistance may be provided at 0.8630, by the 50% retracement of the rally from the February low to the February high.

(Did you understand all the terms used in today’s report? If so, test your skills with DailyFX’s Trading IQ Quiz.)

EURGBP Daily: April 17, 2013

EURGBP_Hits_a_Monthly_High_on_Pound_Weakness_body_eurgbp.png, EUR/GBP Hits a Monthly High on Pound Weakness

Chart created by Benjamin Spier using Marketscope 2.0

--- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES