GBP/EUR trading above 1.39 – Compare & Book
Quote of the day: “Small daily improvements are the key to staggering long term results”
October 26th: Highlights
- Sterling pushes to two month Euro highs on Friday
- GBPEUR currently trading over 1.39
- US dollar takes strength from ECB talks
- China executes sixth interest cut for the year
Following a mostly range bound trading for GBP/USD last week, last Friday mostly followed suit with little volatility. Again, the opening of the US acted as a catalyst for Cable volatility, with the British Pound falling just over 1% on the day, to hit two week low of 1.5341, where it is currently trading.
EUR/USD fell a full 1.1 % to a two and a half month low of 1.1017. This depreciation was heavily influenced by the ECB conference which weighs on investor confidence in the single currency
Canadian core CPI came in lower than forecast for the first time since December last year. GBP/CAD gained 1% on the news, hitting highs of 2.0263. The pair is now trading back at 2.0166
The Aussie housing market isn’t performing well, leading to investor speculation that an interest rate cut is on the horizon. GBP/AUD is currently trading at 2.1158
GBP/THB is currently trading around 54.40. Data released this morning showed a large reduction in imports and export contraction.
Have a great day!
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