After starting the week at 0.8547, Euro/Pound slips to 0.8505 (down 0.49%) .
EUR/GBP is sliding down from 0.8547 to 0.8505, taking a 41 pip loss (0.49%). (Trade Euro/Pound with FXTM now).
This downslide might be related to financial indicators data published earlier as Germany Unemployment Change published on Wednesday came out at -8,000, falling short of the -13,000 projections and continuing its decline from the previous -36,000 figure.
In contrast, positive data for Euro/Pound reported earlier when the United Kingdom's GDP came out at -7.3, above the estimate of -7.8. This is also a step forward from the previous data of -7.8.
Meanwhile, Euro Zone CFTC EUR speculative net positions were released with a new figure of 73,700, This is down from preceding data of 93,300. United Kingdom CFTC GBP speculative net positions were released today at 8:30 PM with a figure of 25,000, This is better than the previous number of 21,800.
Outlook for the rest of the week: market will keep its eye on the following upcoming macroeconomics indicators: Thursday's data for the United Kingdom Construction PMI will be released, with an expected decline to 51 from the preceding figure of 53.3.