Euro-Pound is trading around 0.8556, after closing the previous week at 0.8556 (down 0%) .
Trading week at a glance - EUR/GBP is up to 0.8556, after closing yesterday at zero. Overall, a 0% move or 8,556 pips this week. (Start trading Euro-Pound at FXTM today).
This move comes while some more positive signs for Euro-Pound are out as United Kingdom Composite PMI (Jun) comes out at 53.7, better than analyst estimates of 53.1 and improving upon the previous reading of 53.1.
Nevertheless Construction PMI (Jun) in United Kingdom fell short of the 55 projection with 52.6 and continued its downward trajectory from previous figure of 56.4. Euro Zone CPI (YoY) (Jun) beats expectations of 8.4 with new data release of 8.6. This is also a step forward from the previous data of 8.1. Manufacturing PMI (Jun) in United Kingdom fell short of the 53.4 projection with 52.8 and continued its downward trajectory from previous figure of 54.6. Data for Germany Unemployment Change (Jun) released Thursday comes out at 133,000, beating projections of -6,000 and showing improvement over the preceding figure of -4,000.
Outlook for rest of the week: Positive Euro-Pound indicators are expected going forward as Euro Zone ECB President Lagarde speech scheduled to come out Friday. Euro Zone ECB Publishes Account of Monetary Policy Meeting is scheduled for tomorrow at 11:30 AM.
United Kingdom Manufacturing Production (MoM) (May) will be released Wednesday.