EUR/GBP remains presurized below 0.8570 ahead of EU inflation data
|- EUR/GBP edges lower on Thursday.
- EUR loosen its grip post subdued economic data, inflation data eyed.
- GBP gains under check on delayed economic reopening.
EUR/GBP extends the previous day’s decline in the European session. The pair refreshes the daily lows near the 0.8560 level.
At the time of writing, the EUR/GBP pair trades at 0.8569, down 0.04% for the day.
The Euro is under selling pressure on mixed economic data released on Wednesday. The Hourly Labor costs rose 1.5% in Q1. The Trade Surplus widened to € 10.9 billion in April, from € 2.3 billion, amid a sharp recovery in the global demand. The Eurozone Industrial Production jumped 0.8% in April, much above the market expectations at 0.4%.
Meanwhile, ECB Chief Christine Lagarde said that the monetary and fiscal stimulus will be continued until clear signs of a solid and sustainable economic recovery are visible. The comments challenge the sentiment around the shared currency.
On the other hand, the British pound shows resilience after experts believed that the UK economy continues to grow, despite the delay in the re-opening of the economy.
Traders are bracing for the Eurozone Core Inflation Rate and Construction Output to gauge the market sentiment.
EUR/GBP additional levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.