EUR/GBP on the top end for the week, 0.8580, the level to overcome

The EUR has managed to climb up the charts against the GBP, but upside momentum remains limited.
Eurozone data continues to miss expectations but hasn’t turned negative yet.
Data-light GBP leaves the calendar open for the Euro.

FXStreet Team FXStreet

The Euro (EUR) has managed to claw back some ground from the Pound Sterling (GBP) as of late, but the chart action has been middling for Thursday as the neighboring currencies play tug-of-war for chart momentum. It’s been a data-light week for the GBP, leaving the economic calendar decidedly Euro-centric for scheduled data events.

Gross Domestic Product (GDP) figures for the broader European Union (EU) came in slightly below expectations early Thursday, printing a meager 0.5%. Market forecasts expected the headline figure to match the previous period’s reported figure of 0.6%. The miss caused the Euro to sag briefly against the Pound Sterling, but a continued bump in German Bunds helped to bolster the EUR to a session high just beyond the 0.8600 handle before market sentiment dragged the EUR/GBP back towards the middle.

Upcoming on the economic data docket will be Germany’s Harmonized Index of Consumer Prices for August. The report is the Final version of the data point, with the Preliminary version released a week ago, so any wild deviations in the printing are not anticipated. The market forecast is for an annual rate of 6.4%, in line with the preliminary reading.

EUR/GBP Levels to watch

On the technical side, the EUR/GBP has caught a bump to lift away from the week’s low of 0.8524, but the challenge for Euro bulls will be to overcome late August’s swing high near 0.8610. Continued selling pressure will put the EUR/GBP back into August’s lows near 0.8580, but near-term support is being provided by the recent inflection point around 0.8570.

EUR/GBP 1-hour chart

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD remains above 0.7200 after China's trade data

AUD/USD sits above 0.7200 in the Asian session on Tuesday, near its highest level since May 14. The US Dollar stays under pressure as a rallying Japanese Yen outweighs support from hawkish Fed bets and geopolitical tensions. This, along with firming expectations for another RBA rate hike later this month, acts as a tailwind for the Aussie. However, mixed China trade balance data keep the pair restricted.

USD/JPY stabilizes at around 154.00 as markets assess BoJ outlook

USD/JPY fluctuates at around 154.00 in the American session on Tuesday after rebounding from the six-month low it touched below 153.00 earlier in the day. Nevertheless, the upside attempts resemble technical corrections for now as Japan's upbeat wage growth data and Q2 GDP revision cement bets on a BoJ rate hike next week and continue to support the Japanese Yen.

Gold holds around $4,400, but for how long?

Gold (XAU/USD) remains on the back foot during American trading hours on Tuesday, even as the US Dollar (USD) remains on the defensive. Rising Oil prices and expectations of a Federal Reserve (Fed) rate hike weigh on the precious metal. At the time of writing, XAU/USD trades around $4,400 after reaching an intraday high near $4,443.

XRP ticks up as bullish derivatives, EMA support signal breakout

Ripple (XRP) is grinding upward and getting closer to a short-term breakout above $1.40 on Tuesday. This uptick follows the remittance token's defense of support at $1.38, after a short-lived attempt to breach selling pressure at $1.50 last week.

Europe in focus: September 2026

Six major net contributors demanded substantial cuts to the European Commission’s proposed 2028–2034 EU budget. Germany, Denmark, the Netherlands, Austria, Finland and Sweden issued a joint position on 27 August calling for the nearly €2 trillion proposal to be reduced by several hundred billion euros and rejecting additional common EU borrowing.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.