EUR/GBP Circa 0.78 Post EU CPI/GDP
is trading last just above the 0.78 handle, barely moved following the
release of the European CPI and prelim Q1 GDP data, with inflation
coming worse than expected, while growth figures revealed an upside
Inflation the big concern, growth picks up
The data shows that European Union HICP flash YoY for April came downbeat at -0.2% vs -0.1% expected, while GDP preliminary Q1 figures printed 0.6% QoQ vs 0.4% expected. March 2016 unemployment rate was 10.2% vs 10.3% expected.
EUR/GBP remains in familiar range
EUR/GBP continues bracketed in a 0.7735/0.7810 range in the hourly chart, following a sharp 350+ pips sell-off from above 0.81 ever since April 7th, time when the bets in favour of the 'remain' in the Brexit polls started to turn.