The pair is climbing for the second consecutive session, reaching around 0.8550 during Monday’s Asian trading hours. The boost comes in the wake of softer Consumer Inflation Expectations reported by the Bank of England (BoE) last Friday, showing a slight increase of 3.0%, down from the previous uptick of 3.3%.

This softer inflation data has sparked speculation about a potential rate cut by the BoE in June, which could weaken the Pound Sterling (GBP) and offer support to the EUR/GBP pair.

Additionally, Monday’s data reveals a significant surge in the Rightmove House Price Index (MoM) for March, up by 1.5%, surpassing the previous increase of 0.9%. On an annual basis, the report indicates a rise of 0.8% compared to the last 0.1%.

However, despite maintaining borrowing costs at record highs during its March meeting, the European Central Bank (ECB) hinted at discussions regarding a potential rate cut. This dovish stance from ECB officials may pose challenges for the Euro. ECB policymaker Pablo Hernandez de Cos suggested on Sunday that the central bank may initiate interest rate cuts in June following a decrease in Eurozone inflation.

The market focus will shift to the Eurozone Harmonized Index of Consumer Prices (HICP), and the trade balance data will be scheduled for release on Monday. Looking ahead to Tuesday, attention will be on various market indicators from the United Kingdom (UK), including the Consumer Price Index, Producer Price Index, and Retail Price Index.


Today last price0.8554
Today Daily Change0.0005
Today Daily Change %0.06
Today daily open0.8549
Daily SMA200.8549
Daily SMA500.8554
Daily SMA1000.8608
Daily SMA2000.8608
Previous Daily High0.8553
Previous Daily Low0.8533
Previous Weekly High0.856
Previous Weekly Low0.8504
Previous Monthly High0.8578
Previous Monthly Low0.8498
Daily Fibonacci 38.2%0.8546
Daily Fibonacci 61.8%0.8541
Daily Pivot Point S10.8537
Daily Pivot Point S20.8525
Daily Pivot Point S30.8516
Daily Pivot Point R10.8557
Daily Pivot Point R20.8566
Daily Pivot Point R30.8578

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