EUR/GBP Weekly Analysis (week of 20-24/07)

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Jul. 24, 2020

Euro/Pound hovers around 0.9103

(20:00) GMT

A mostly flat day so far for EUR/GBP, ranging between 0.9124 and 0.9084 and is now at 0.9103.

This limbo state for Euro/Pound is reflected by market data published as New data for Germany GfK German Consumer Climate (Aug) was released Thursday 6:00 AM comes out at -0.3, beating projections of -5.0 and showing improvement over the preceding figure of -9.4. United Kingdom Money Supply released earlier shows an improvement to -46 from the preceding data of -58, but falls short of the projected -38. Euro Zone Consumer Confidence fall short of the -12.0 projections, with -15.0 and continued its downward trajectory from previous figure of -14.7.

Meanwhile, mixed performance are seen elsewhere as Pound is trading around 1.2788 (up 130 pips). Yen is trading around 105.968 after starting the session at 107.241 (down 127 pips).

Jul. 23, 2020

Euro/Pound inches to 0.9103 (a 0.19% gain) after starting the day at 0.9086

(22:00) GMT

With no clear-cut direction EUR/GBP trading at 0.9103 after ranging today between 0.9106 and 0.9101.

This move comes while some more positive signs for Euro/Pound are out as Germany GfK German Consumer Climate (Aug) beats expectations of -5.0 with new data release of -0.3. This is also a step forward from the previous data of -9.4. United Kingdom Money Supply released earlier shows an improvement to -46 from the preceding data of -58, but falls short of the projected -38. France French Business Survey (Jul) released earlier shows an improvement to 82 from the preceding data of 78, but falls short of the projected 85.

At the same time looking at other markets some moves suggest a different direction Pound/Dollar is trading around 1.2735 after starting the session at 1.2657 (down 0.62%). Pound/Yen is trading around 136.078 (up 36 pips).

Jul. 22, 2020

After starting the day at 0.906, Euro/Pound moves up to 0.9087 (up 26 pips)

(22:00) GMT

EUR/GBP rallies 26 pips and maintains at 0.9087 level.

Euro/Pound green move comes while some more encouraging signs are out as Finland Unemployment released Tuesday 5:00 AM with a figure of 6.7%, this is better from previous number of 10.6%. Netherlands Consumer Spending released today at 4:30 AM with a figure of -12.8%, this is better from previous number of -17.3%.

Despite this, other data released earlier might suggest a different path as While down from preceding data of 44.47B, United Kingdom Public Sector Net Borrowing (Jun) is better than expected at 34.80B according to new data released Tuesday 6:00 AM.

At the same time looking at other markets some moves suggest a different direction Sterling is trading around 1.273 (up 169 pips). Pound/Yen is trading around 136.364 (up 191 pips).

Jul. 21, 2020

After starting the day at 0.904, Euro/Pound inches to 0.905 (up 10 pips)

(21:00) GMT

EUR/GBP recovered back to 0.905 after dipping down to 0.9 in a session that started at 0.904.

Euro/Pound green move comes while some more encouraging signs are out as Germany Producer Price Index released earlier shows an improvement to -1.8% from the preceding data of -2.2%, but falls short of the projected -1.6%.

Despite this, other data released earlier might suggest a different path as Data for Slovakia Unemployment was released Monday 7:00 AM is better than expected with 7.4%, but worse than previous figure of 7.2%. Data for United Kingdom Public Sector Net Borrowing (Jun) was released today at 6:00 AM is better than expected with 34.80B, but worse than previous figure of 44.47B.

At the same time looking at other markets some moves suggest a different direction British Pound is trading around 1.273 (up 169 pips). Pound/Yen is trading around 135.843 (up 139 pips).

Jul. 20, 2020

After starting the day at 0.9091, Euro/Pound drops to 0.904 (down 50 pips)

(22:00) GMT

EUR/GBP remains in the 0.904 range after starting the session at 0.9091 and dropping 50 pips.

This downslide might be related to financial indicators data published earlier as Data for Slovakia Unemployment was released today at 7:00 AM is better than expected with 7.4%, but worse than previous figure of 7.2%. Down from preceding data of 14.4B, Euro Zone Current Account is released with a new figure of 8.0B.

Nonetheless, encouraging indicators for Euro/Pound published earlier when Germany Producer Price Index released earlier shows an improvement to -1.8% from the preceding data of -2.2%, but falls short of the projected -1.6%.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Euro/Pound as Pound/Yen is trading around 135.71 after starting the session at 134.471 (down 0.92%). Pound is trading around 1.2656 after starting the session at 1.2571 (down 0.68%).