Weak sentiment sees Euro-Pound posting 0.11% loss

Published: November 25 2022, 14:31 GMT+0

Weak sentiment sees Euro-Pound posting 0.11% loss

After closing at 0.8591 yesterday, EUR/GBP opened today at 0.8588, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, EUR/GBP retains a distinct 0.8575 to 0.8616 daily range.

Germany GDP beat analyst expectations of 0.3 and the previous reading of 0.1 with new data of 0.4. Highly important Business Climate Index data from Germany beat analyst expectations of 85 with a reading of 86.3.

Meanwhile, Germany GDP released today at 07:00 UTC is better than expected at 1.2% but down from preceding data of 1.7% according to new data.

In the meantime, negative performances are also seen in other pairs as EUR/USD is down to 1.0367, losing 45 pips, after closing at 1.0412 in the preceding trading session.

Positive performances can be seen by looking at other currencies as USD/CHF is up 0.62%. Having closed the previous session at 138.59, USD/JPY is up 0.57% today to currently trade at around 139.38.

Furthermore, Euro Zone ECB's De Guindos speech is scheduled for today at 17:00 UTC. United Kingdom CFTC GBP speculative net positions will be released today at 19:30 UTC. Euro Zone CFTC EUR speculative net positions scheduled to come out today at 19:30 UTC.

Euro-Pound is now trading 12.2% away from its significant high of 0.9785 first tested a month ago.