EUR/GBP crawls above 0.8600 favoured by weak UK data
13.12.2023, 09:10

EUR/GBP crawls above 0.8600 favoured by weak UK data

 

  • The Euro extends its recovery beyond 0.8600 as UK data disappoints.
  • UK GDP and manufacturing production deteriorate beyond expectations.
  • These data pose a challenge for the Bank of England.


The euro maintains a positive tone against the Pound on Wednesday’s European trading session, reaching intra-day highs right above 0.8600, following downbeat UK GDP and manufacturing figures.

The sterling dropped against its main peers after National Statistics reported that UK GDP contracted by 0.3% in October. The market consensus had anticipated a softer 0.1% decline, following a 0.2% growth in September.

Beyond that, manufacturing production deteriorated at a 1.1% pace in the same month, against market expectations of a flat reading, with the trade gap widening beyond expectations. These figures cast a shadow over the country’s economic outlook, and add negative pressure on the Pound.

This poses a challenge for the BoE’s hawkish stance and increases the interest in Thursday’s monetary policy meeting. Investors will be especially attentive to the voting results and the bank’s statement for hints of a dovish turn that might send the pound lower.

The technical picture shows the euro building up, with resistance levels at 0.8610 and 0.8650. Supports lie at 0.8550 and the 0.8500 area.

Technical levels to watch

 

 

© 2000-2025. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

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.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik