⚡️The EUR/GBP stretched for the 0.8700 major handle in Friday trading, closing the week with over a full percent of upside gains with the Euro (EUR) seeing its best trading week against the Pound Sterling (GBP) since early February.
⚡️The Bank of England (BoE) pulled back from a broadly-anticipated rate hike this Thursday after inflation figures for the UK economy came in broadly lower than expected. The UK central bank is seeing inflation fall away faster than previously expected, and the BoE is set to see a "none and done" end to the rate hike cycle.
⚡️Eurozone Purchasing Manager Index (PMI) figures came in mixed early Friday, with the headline Composite PMI for September printing at 47.1, reversing the forecast decline 46.5 and climbing further from the previous period's 46.7.
⚡️The underlying components were less positive, leaving the Euro with limited upside following the release.
⚡️The EU Services PMI printed at 48.4, well above the forecast 47.7 and improving from the previous 47.9.
⚡️The Manufacturing component flubbed market forecasts, printing a disappointing 43.4, ticking down from the previous 43.5 and entire missing the market's expected improvement to 44.0.
⚡️The Bank of England (BoE) pulled back from a broadly-anticipated rate hike this Thursday after inflation figures for the UK economy came in broadly lower than expected. The UK central bank is seeing inflation fall away faster than previously expected, and the BoE is set to see a "none and done" end to the rate hike cycle.
⚡️Eurozone Purchasing Manager Index (PMI) figures came in mixed early Friday, with the headline Composite PMI for September printing at 47.1, reversing the forecast decline 46.5 and climbing further from the previous period's 46.7.
⚡️The underlying components were less positive, leaving the Euro with limited upside following the release.
⚡️The EU Services PMI printed at 48.4, well above the forecast 47.7 and improving from the previous 47.9.
⚡️The Manufacturing component flubbed market forecasts, printing a disappointing 43.4, ticking down from the previous 43.5 and entire missing the market's expected improvement to 44.0.
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Comment:
⚡️EUR/GBP looks to gain ground above 0.8700 psychological level. Eurozone PMI data provided support for the Euro.
Comment:
⚡️ The ECB's Lagarde sees further weakness in the European economy. Analysts expect the EUR/GBP to gain ground heading into the end of the year on UK headwinds.
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Comment:
⚡️The Pound Sterling continues to sag against the Yen in the short-term, down over 2.5% from August's peak
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Comment:
⚡️ Everything is in my plan
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Comment:
⚡️The Euro (EUR) couldn't hang onto gains against the Pound Sterling (GBP) and lost the 0.8700 handle as markets gear up for the Thursday trading session.
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Trade closed: target reached
