MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURGBP: Rallying Alongside Dovish BoE Repricing

EURGBP
CEEMEABulletUKGlobalForeign Exchange BulletsRegionMarkets

EUR/GBP rallies on the dovish move in BoE pricing after BoE Governor Bailey outlined the prospect of the Bank becoming a bit more aggressive with rate cuts provided the news on inflation continued to be good (see earlier bullets for exact movement in BoE pricing and our thoughts on Bailey’s comments).

  • EUR/GBP has moved from 0.8330 to highs of 0.8386, piercing initial resistance at the 20-day EMA (0.8379).
  • Bulls now target the Aug 30 low (0.8400) as they look to counter the bearish trend.
  • Initial support seen at the 3.00 projection of the Aug 8 -13-14 price swing (0.8311).
96 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

EUR/GBP rallies on the dovish move in BoE pricing after BoE Governor Bailey outlined the prospect of the Bank becoming a bit more aggressive with rate cuts provided the news on inflation continued to be good (see earlier bullets for exact movement in BoE pricing and our thoughts on Bailey’s comments).

  • EUR/GBP has moved from 0.8330 to highs of 0.8386, piercing initial resistance at the 20-day EMA (0.8379).
  • Bulls now target the Aug 30 low (0.8400) as they look to counter the bearish trend.
  • Initial support seen at the 3.00 projection of the Aug 8 -13-14 price swing (0.8311).