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Market Mood EURGBP 14.02.20

Market Mood EURGBP 14.02.20

Market Mood EURGBP 14.02.20

in Daily Forecasts

Listen to the market mood for the EURGBP currency pair in the coming session:

Strong GBP
The GBP should remain strong as the surprise resignation by UK Finance Minister Sajid Javid has meant that all eyes are on his replacement Rishi Sunak. Sunak expected to increase fiscal spending (Gov’t spending) and therefore relieve the Bank of England from needing to cut interest rates, hence the strong GBP buying we saw yesterday.

Weak EUR
The EUR remains weak at the moment due to a continued slowdown in eurozone growth and expectations of further ECB easing. Today’s German GDP data showed that the EU’s biggest contributor only narrowly missed contraction by printing a Q4 GDP number of 0.0%.

Expectations
Therefore, expect EURGBP sellers at pullbacks.

Risks to this outlook
Any very positive eurozone news from the EU GDP data at 10GMT or negative news about fiscal spending from Rishi Sunak.


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Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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