EUR/GBP Circa 0.78 Post EU CPI/GDP

EUR/GBP Circa 0.78 Post EU CPI/GDP

29 April 2016, 11:40
Roberto Jacobs
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EUR/GBP Circa 0.78 Post EU CPI/GDP

EUR/GBP 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 surprise.

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.


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