EUR/GBP Fundamental Analysis October 17, 2012 Forecast

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Updated: Aug 20, 2015, 20:00 GMT+00:00

Analysis and Recommendations: The EUR/GBP climbed to 0.8092 as the euro gathered momentum on positive data and strong sentiment. Sterling rose against the

EUR/GBP Fundamental Analysis October 17, 2012 Forecast

Analysis and Recommendations:

The EUR/GBP climbed to 0.8092 as the euro gathered momentum on positive data and strong sentiment. Sterling rose against the dollar on Tuesday as demand for perceived riskier currencies improved, although it lagged the euro on concerns that slowing UK inflation will give the BoE more room to ease policy.

Against the euro, the pound was lower. The euro was 0.3 percent higher at 80.75 pence, not far from a recent high of 81 pence with resistance at its 200-day moving average of 81.13 pence.

The single currency continued to hold well above chart support at Thursday’s low of 80.23 pence and the 21-day moving average at 80.22 pence with an improvement in the German ZEW’s economic sentiment survey also helping.

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Economic Data October 16, 2012 actual v. forecast

Date

Time

Currency

Importance

Event

Actual

Forecast

Previous

Oct. 16

01:30

AUD

Monetary Policy Meeting Minutes