|Day's Range||0.887 - 0.892|
|52 Week Range||0.8276 - 0.9494|
EURGBP struggled to gather upward momentum after a failed recovery attempt on Wednesday morning. The currency pair is now trading near its lowest level in one month, as recession fears hit the Eurozone economy.
We strongly believe China wants to show some strength in their perceived economic recovery and that these PMI numbers are somewhat “manufactured for effect”.
On Tuesday and Wednesday things have been calmer, we will try to look for more technical setups which are more based on dots and less on panic and fear.
The European parliament will approve Britain’s departure from the EU later on Thursday, setting the scene for the U.K. to leave the bloc. British Prime Minister Johnson has hailed the departure, but European officials are much less enthusiastic.
Investing.com - The U.S. dollar is showing some strength against the safe haven Japanese yen Friday as a degree of calmness returns to traders who have fretted all week over the new pneumonia-like virus in China.
U.K. retail sales disappointed again in December dropping 0.6%, adding further force to arguments for an interest rate cut from the Bank of England at the end of the month.
The latest minutes from the European Central Bank (ECB) meeting are due on Thursday and investors will lookout for clues on ECB’s strategy review, and specifically about the change in inflation target.
Investing.com -- The U.K. economy shrank unexpectedly in November, amid signs the political uncertainty surrounding the early December general election weighed on economic growth. The news is likely to increase expectations of an interest rate cut at the Bank of England's next rate-setting meeting.
Investing.com - The Japanese yen was the early beneficiary of Iran’s decision to fire several missiles at military bases in Iraq which were hosting U.S. troops. Investors chose this currency as a safe haven in case this move represented a dramatic escalation of the recent tensions in the region.
Investing.com -- The dollar was mixed in early trade in Europe Monday, consolidating solid gains against the pound and euro on Thursday caused by fresh fears over relations between the U.K. and EU next year.
Investing.com - The Bank of England said Thursday that it is keeping interest rates on hold at 0.75% after its final monetary policy meeting of the year.