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.
