Euro Trying to Follow GBP Restoral

During European trades, the euro/dollar fell to 1.1255 due to weak Eurozone inflation data. The definitive April CPI fell 0.2% YoY and was 0.0% MoM (previous: 1.5%). The ECB will now need to continue its fight against deflation, thereby negatively affecting the euro.

The GBP rose from a 1.4402 minimum to 1.4555 (+153 points). It definitely didn”t strengthen against the dollar and other key currencies because of the UK labour market data. Such sharp unexpected fluctuations happen when preliminary survey results regarding a Brexit are published, or when an act of terrorism takes place. There was no act of terrorism and no news out. Probably, the number of Brits wanting to remain in the EU increased. We”ll find out about that later. According to recent data, those wanting to stay are at 55%. The further hastening of the pound led to the fall in the euro/pound cross.

The pound gathered pace. It could stop at its current 1.4550 level, just as it could rise to 1.4580 whilst the crosses are supporting it. The market is now incorporating a soft-toned set of Fed minutes into prices. I”m not bothering on forecasting tonight”s movements. It”s better to stay off the market until Thursday.

Source:: Euro Trying to Follow GBP Restoral

About the Author
Alpari was founded in 1998 and is one of the world’s leading Forex brokers, offering clients a full package of the most modern financial instruments and technological solutions for online trading and investment. According to data from Finance Magnates, Alpari has been one of the largest Forex brokers in the world for a number of years. The trading turnover of the Alpari companies in 2014 was 2.5 trillion USD. Today Alpari is the world’s largest MetaTrader 4 Forex broker. The first half of 2015 saw company branches offering their services to over one million clients from over 150 countries in the world. Alpari clients have access to over 50 currency pairs and an extensive range of other instruments. The company offers the use of three trading platforms for computer and mobile applications for use with iOS and Android. Alpari is a member of international organizations such as The Financial Commission (Hong Kong) and CRFIN (Russia). Bonuses: the Alpari Bonus Program was launched in 2014 and allows clients to independently change their conditions for working on the financial market: reduce commission, save money on swaps, improve conversion rates and much more. Read More about Alpari HERE or you can visit their website direct by CLICKING HERE..

Related Posts

Leave a Reply