May 28, 2020 6:55 am
EUR/GBP remained in a tight range close to yesterday’s one-week high (0.8994) during early European trade on Thursday, as the single currency was still supported after the announcement of a massive EU economic recovery package. “The Commission is today proposing a new recovery instrument, called Next Generation EU, within a revamped long-term EU budget. In […]
Read moreMay 27, 2020 12:31 pm
GBP/USD retreated from two-week highs overnight and remained in the red during late European trade on Wednesday, as the US Dollar strengthened and market players refocused on probability of negative interest rates in the United Kingdom. In a statement during a CBI webinar on Tuesday, Bank of England Chief Economist Andy Haldane played down the […]
Read moreMay 27, 2020 6:51 am
EUR/GBP slid for a third straight day on Wednesday, trading in proximity to intraday lows during the early phase of the European session, as market players awaited the European Commission’s detailed proposal for an economic recovery fund later in the day. Last week Germany and France proposed a EUR 500 billion Recovery Fund, which may […]
Read moreMay 26, 2020 11:34 am
GBP/USD extended gains and touched a fresh two-week high during the late phase of the European session, as the US Dollar lost ground amid rising investor optimism regarding economic recovery and after UK Prime Minister Boris Johnson announced plans of a wide-scale reopening of department stores and shopping centres in June. During a Monday news […]
Read moreMay 26, 2020 7:06 am
EUR/GBP remained relatively stable near intraday lows during early European trade, as market sentiment was affected by both rising optimism over a global recovery from the coronavirus pandemic and by concerns over escalating US-China tensions. With restrictive measures on businesses and movement being gradually lifted, investor optimism over a swift return to growth seemed to […]
Read moreMay 25, 2020 7:13 am
EUR/GBP continued to retreat in thin trade on Monday after data showed Germany’s economy had shrunk the most in 11 years, while concerns of an impasse between China and the United States over civil liberties in Hong Kong lessened the appeal of riskier assets. Final data by the Federal Statistical Office revealed earlier on Monday […]
Read moreMay 22, 2020 11:43 am
GBP/USD continued to slide on Friday, as the Sterling was pressured by the latest string of somber macro data coming from the United Kingdom, while demand for traditional safe haven currencies such as the US Dollar increased due to escalating tensions between Beijing and Washington. Earlier on Friday, UK retail sales were reported to have […]
Read moreMay 22, 2020 7:03 am
EUR/GBP came off recent eight-week highs and traded within a relatively tight range during the late phase of the Asian session on Friday, as the rally driven by optimism over Europe moving closer to a fiscal union, seemed to have lost traction. However, the pair trimmed certain part of earlier losses after a Friday report […]
Read moreMay 21, 2020 11:39 am
GBP/USD pared earlier losses during the late phase of the European trading session on Thursday, as better-than-expected UK manufacturing and services numbers by IHS Markit introduced some optimism following a string of dismal macro data released earlier. Preliminary data showed that UK’s Manufacturing Purchasing Managers’ Index rebounded more than expected in May to a reading […]
Read moreMay 21, 2020 6:47 am
EUR/GBP touched a fresh eight-week high during the early phase of the European session on Thursday, since weak UK inflation data fueled negative interest rate prospects, mounting pressure on the Sterling. “The negative view we previously held for the kiwi on the back of a dovish Reserve Bank can now be extended to the pound […]
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