- Analytics
- News and Tools
- Market News
- EUR/GBP: Direction still seen as bullish over the coming weeks – ING
EUR/GBP: Direction still seen as bullish over the coming weeks – ING
EUR/GBP traded close to 0.8850 yesterday but dropped back below 0.8800 today after a surprise acceleration in UK inflation. Nonetheless, economists at ING maintain a bullish bias over the coming weeks.
Surprise acceleration in inflation
“Headline CPI YoY rose from 10.1% to 10.4%, defying expectations for a drop below 10.0%. Core inflation also accelerated, from 5.8% to 6.2%.”
“Today’s data – along with the tentative recovery in market sentiment - reinforces the prospect of a Bank of England rate hike tomorrow (which is also our base case). Still, we still deem a May pause as highly likely, and we continue to see the direction for EUR/GBP as bullish over the coming weeks.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
