EURGBP - Interactive Trading

Unprecedented as expected!
— European parliamentary election start next week.
— June is the month ECB wants to start cutting rates.

GBP looks strong till now; June is a month that should present us lots of volatility, and more volatility means careful trades.

Investors and financial markets will be very surprised – and not at all happy – should Thursday’s ECB announcement not include the first cut in key interest rates since September 2019.

I’ve got a short on GBPJPY for the longest time. Finally, another drop. Following along!

1 Like

ECB cuts rates even as inflation fight goes on
FRANKFURT (Reuters) -The European Central Bank went ahead with its first interest rate cut since 2019 on Thursday, citing progress in tackling inflation even as it acknowledged the fight was far from over.

1 Like

Price gapped to 52-week low on week open

UK unemployment rises by 138,000 as labour market weakens: Resolution point out that the UK unemployment rate has increased for four months in a row – from 3.8% in the last quarter of 2023, to 4.4% in the three months to April 2024 – an increase of 190,000 people out of work.

“This ‘noise’ is not very meaningful, and hence we are still more ‘outlook driven’ and will look still more closely at the inflation forecast. We remain confident that barring an external shock, we will bring inflation back to our 2% target by next year, and that we will reach it with a soft rather than a hard landing.” Francois Villeroy, ECB Policymaker & Head of French CBank

Here’s the chart as we await the UK’s inflation data with a 2.0% forecast from its previous 2.3%