Back
18 Jun 2013
EUR/GBP high 0.8547
FXstreet.com (London) - EUR/GBP has printed a high of 0.8547, trading off from the support line formed yesterday at 0.8500.
We have seen the first raft of key data releases this morning in the market ahead of US data coming out this afternoon. In the UK, we had a mixed bag that revealed, all in all, that core CPI was higher than previous and beating expectations. Core CPI for the month of May, year on year, came in at 2.2% vrs 2.1% expected and 2% previous while month on month remained at 0.2%, beating expectations at 0.1%. CPI including food and energy printed much higher than expectations at 3.1% vrs 2.6% expected and 2.4% previous year on year. Meanwhile, sentiment for business activity in the Eurozone picked up measured by the ZEW survey printing 30.6 vrs 27.6 previous, and similarly the same went for the sentiment in Germany with ZEW printing 38.5 vrs 38.1 expected and 36.4 previous. Sentiment vrs current printed more bullish for the Euro.
EUR/GBP back on track
Spot had been unable to break the top-side Bollinger band in recent weeks, allowing it to touch lower just beneath. With the recent bounce back in the channel, closing the gap widening and the bandwidth again, the pair is back in the green while ma’s are offering buy signals on the hourly chart. The pair has a key support at 0.8470 while targeting May highs at 0.8600.
We have seen the first raft of key data releases this morning in the market ahead of US data coming out this afternoon. In the UK, we had a mixed bag that revealed, all in all, that core CPI was higher than previous and beating expectations. Core CPI for the month of May, year on year, came in at 2.2% vrs 2.1% expected and 2% previous while month on month remained at 0.2%, beating expectations at 0.1%. CPI including food and energy printed much higher than expectations at 3.1% vrs 2.6% expected and 2.4% previous year on year. Meanwhile, sentiment for business activity in the Eurozone picked up measured by the ZEW survey printing 30.6 vrs 27.6 previous, and similarly the same went for the sentiment in Germany with ZEW printing 38.5 vrs 38.1 expected and 36.4 previous. Sentiment vrs current printed more bullish for the Euro.
EUR/GBP back on track
Spot had been unable to break the top-side Bollinger band in recent weeks, allowing it to touch lower just beneath. With the recent bounce back in the channel, closing the gap widening and the bandwidth again, the pair is back in the green while ma’s are offering buy signals on the hourly chart. The pair has a key support at 0.8470 while targeting May highs at 0.8600.