EUR/GBP regains 0.7100 and above

22 May, 2015

The better tone in the single currency plus the steady stance in the sterling are allowing the current rebound in EUR/GBP beyond the 0.7100 handle.

EUR/GBP motivated by German data

The cross reacted positively following the auspicious release from the German GDP during the first quarter, showing the domestic economy grew 0.3% QoQ, matching previous estimates.

In the meantime, the buoyant tone remains intact around the euro, with the main focus of attention being Greece and the developments from the EU Leaders gathering in Riga. On the GBP-side, UK’s Public Sector Net Borrowing figures are due ahead in the session preceding the speech by Governor M.Carney.

EUR/GBP key levels

The cross is now advancing 0.31 at 0.7117 and a surpass of 0.7166 (high May 21) would open the door to 0.7180 (10-d MA) and then 0.7187 (high May 20). On the other hand, the immediate support aligns at 0.7091 (low May 21) ahead of 0.7036 (low Mar.12) and finally 0.7015 (2015 low Mar.11).


Source link  
Gold eases from 1-month tops

Gold surrendered early modest gains to fresh 1-month tops and is currently placed near session lows, touched in the past hour. Easing fears of a full-blown...

Pound celebrates on positive headlines

Last week a UK government official reportedly signalled that progress had been made on the transition deal. However, unanswered questions have...

Gold weakens farther below $1320 level

Gold continued losing ground at the start of a new trading week and tumbled to fresh session lows, around $1315 in the past hour. Following an early...


Dollar risks getting dumped

While today's US inflation report is getting touted as being key for the short-term direction of travel for global markets, we're a bit more sceptical...

Gold drops to 4-month low

Gold (XAU/USD) hits a four-month low of $1256. 08 today as yield curve continues to collapse on speculation that tax reform would open doors for faster...

Euro approaching the support level

A break of $1.1800 would be technically important. Sterling, like the euro, appears to have traced out a reversal candlestick pattern-shooting...


Gold holds steady near 6-week highs

Gold trimmed of the early gains to a six-week high and retreated to the $1262 region during early the European session, albeit has managed to hold...

USD stays under pressure on politics

The US dollar inched up from a 13-month low against a basket of six major currencies touched in early trading, assisted by strongerthan-expected...

Dollar rebounds from multi-month lows

The greenback selling pressure seems to have abated for the time being, with the key US Dollar Index (DXY) bouncing off 9-month lows...

  


Share: