The GBP/USD rate continues to negatively push the support line. Today sees the rate at a level not seen since March 2020 when the rate spiked lower momentarily. The trading pattern for the past couple of weeks looks a little different this time around and EUR/USD has now seen a level not reached since 2002. The Dollar is very much the flavour of the month with the ongoing conflict in Ukraine.
GBP/EUR is a slightly different story where the rate remains towards the upper end of the range.
Plenty of global data out today with S&P manufacturing and services numbers being reported. First out of the traps is Europe followed by the UK then the US. Throw into the mix a speech by the ECB's Fabio Panetta and European consumer confidence numbers later and it could be an interesting day.
Today’s Economic Calendar
EUR: 09:00 S&P Global Manufacturing and Services
UK: 09:30 S&P Global Manufacturing and Services
EUR: 12:00 ECB Panetta Speech
US: 14:45 S&P Global Manufacturing and Services
US: 15:00 New Home Sales
EUR: 15:00 Consumer Confidence
As ever we look forward to keeping you in the loop and look out for our next update.
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