21 Jan 2015
EUR/GBP flat around 0.7620
FXStreet (Edinburgh) - Mixed performances from the sterling and the euro area relegating EUR/GBP to the 0.7620 area, all within a tight intraday range.
EUR/GBP focus on BoE today, ECB tomorrow
Very interesting day for the sterling today, with the release of the BoE minutes followed by the labour market figures in the UK economy. Recall that consensus expects the Claimant Count to have decreased by 25.0K during December and the jobless rate to have eased to 5.9% from 6.0% in the three months ended in November. Further ahead in the week, the crucial ECB meeting is due on Thursday, with market rumours pointing to the implementation of a sovereign QE programme by the ECB, which could add selling interest to the shared currency.
EUR/GBP relevant levels
The cross is now losing 0.02% at 0.7620 with the next support at 0.7596 (low Jan.16) ahead of 0.7567 (up trend line from 2000-2007 lows) and then 0.7535 low Feb.27 2008). On the upside, a breakout of 0.7703 (38.2% of 0.7875-0.7596) would expose 0.7741 (10-d MA) and finally 0.7747 (high Jan.15).
EUR/GBP focus on BoE today, ECB tomorrow
Very interesting day for the sterling today, with the release of the BoE minutes followed by the labour market figures in the UK economy. Recall that consensus expects the Claimant Count to have decreased by 25.0K during December and the jobless rate to have eased to 5.9% from 6.0% in the three months ended in November. Further ahead in the week, the crucial ECB meeting is due on Thursday, with market rumours pointing to the implementation of a sovereign QE programme by the ECB, which could add selling interest to the shared currency.
EUR/GBP relevant levels
The cross is now losing 0.02% at 0.7620 with the next support at 0.7596 (low Jan.16) ahead of 0.7567 (up trend line from 2000-2007 lows) and then 0.7535 low Feb.27 2008). On the upside, a breakout of 0.7703 (38.2% of 0.7875-0.7596) would expose 0.7741 (10-d MA) and finally 0.7747 (high Jan.15).