The EUR/GBP pair bounces back strongly from 0.8530 in the European session on Friday.
EUR/GBP recovers from 0.8530 as investors shift focus to Thursday’s BoE policy decision. The ECB is expected to announce its first rate cut in June, while the BoE is expected to make a similar decision in August. The UK's inflation data, scheduled for Wednesday, will guide the Pound Sterling. The cross rebounds even though market participants anticipate that the Bank of England will start reducing interest rates after the European Central Bank .
Stournaras added that he doesn't buy the argument that the ECB cannot cut rates before the Fed and that four rate cuts in 2024 seem reasonable. Meanwhile, the Pound Sterling has come slightly under pressure as investors shift focus to the BoE’s interest rate decision, which will be announced on Thursday. The BoE is expected to keep interest rates unchanged at 5.25%. But before that, the United Kingdom’s inflation data for February will be keenly watched.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/GBP will struggle to find direction into the CPI and BoE events next weekThe Bank of England will release its Inflation Attitudes Survey on Friday.
Read more »
EUR/GBP retreats further from weekly top after ECB Stournaras’ dovish commentsThe EUR/GBP cross comes under heavy selling pressure on Thursday and for now, seems to have snapped a three-day winning streak to the 0.8560 area, or the weekly top touched the previous day.
Read more »
Euro Trade Setups Ahead of ECB Decision – EUR/USD, EUR/GBP and EUR/JPYNext week’s ECB meeting is unlikely to see any change in monetary policy but post-decision commentary may give traders a better view when the first rate cut is set to be announced
Read more »
Euro’s Outlook Hinges on ECB Guidance; Trade Setups on EUR/USD, EUR/GBP, EUR/JPYThis article discusses the upcoming ECB decision and its potential ramifications for the euro's outlook. In the piece, we also explore the technical profile for EUR/USD, EUR/GBP, and EUR/JPY, assessing price action dynamics and market sentiment.
Read more »
– Analysis & Setups on GBP/USD, EUR/GBP and GBP/JPYThis article explores the technical outlook for several British pound currency pairs, including GBP/USD, EUR/GBP and GBP/JPY. Recent market sentiment dynamics and key levels to watch are also discussed.
Read more »
Euro Weekly Outlook: EUR/USD, EUR/GBP, EUR/JPY - Analysis and ForecastsThe ECB is looking increasingly likely to the be the first major central bank to start cutting interest rates, and this will affect the value of the single currency
Read more »