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\n Share:<\/span><\/p>\n The EUR\/GBP is losing ground on Monday, with the Euro slipping following dovish comments from the European Central Bank’s (ECB) President Christine Lagarde<\/a>.<\/p>\n ECB President Lagarde<\/a> noted that there has been an overall slowdown in momentum for the EU economy, and job creation continues to moderate.<\/p>\n The ECB sees further weakness for the third quarter, and the EU’s central bank has also delayed the completion of its policy framework review, which has been pushed out to sometime by the spring of 2024.<\/p>\n Despite Monday’s backslide, the Euro (EUR) continues to trade well against the Pound Sterling (GBP) overall looking longer-term. The EUR\/GBP managed to swing into a fresh four-month high before falling back to 0.8670.\u00a0<\/p>\n Analysts at Danske Bank expect the trend to continue, with the EUR\/GBP forecast to hit 0.8800 by the end of the year, citing greater headwinds for the Pound Sterling thanks to a dovish Bank of England (BoE).<\/p>\n Read More:<\/strong><\/p>\n Lagarde speech: Recent indicators point to further weakness in third quarter<\/a><\/p>\n EUR\/GBP to move only modestly higher to 0.88 over the coming year \u2013 Danske Bank<\/a><\/p>\n The economic calendar is notably thin for both the Euro and the Pound Sterling for the first half of the trading week with very little on the data docket.<\/p>\n Euro traders will be making note of the ECB’s monthly bulletin due on Thursday, while Friday brings UK Gross Domestic Product<\/a> (GDP) and EU Consumer Price Index (CPI) figures.<\/p>\n Market forecasts see the annualized GDP growth rate for the UK holding steady in the 2nd quarter at 0.4%.<\/p>\n On the EU CPI side, median estimates expect the harmonized CPI index to lag slightly, forecast to print at an annualized 4.8% for the month of September.<\/p>\n\n
Lagarde:\u00a0further weakness in third quarter<\/h2>\n
EUR\/GBP technical outlook<\/h2>\n