{"id":176249,"date":"2023-10-18T05:42:53","date_gmt":"2023-10-18T00:12:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176249"},"modified":"2023-10-18T05:42:53","modified_gmt":"2023-10-18T00:12:53","slug":"eur-gbp-pushing-towards-0-8700-after-tuesday-powerlift-ahead-of-wednesdays-uk-eu-cpi-double-feature-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-gbp-pushing-towards-0-8700-after-tuesday-powerlift-ahead-of-wednesdays-uk-eu-cpi-double-feature-crypto-news\/","title":{"rendered":"EUR\/GBP pushing towards 0.8700 after Tuesday powerlift ahead of Wednesday&#8217;s UK &amp; EU CPI double feature &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>The EUR\/GBP bounded into 0.8680 after EU data beats climbed over UK earnings miss.<\/strong><\/li>\n<li><strong>EU sentiment came in above expectations, while UK wages failed to meet the market median forecast.<\/strong><\/li>\n<li><strong>EUR\/GBP\u00a0traders will be looking ahead to Wednesday&#8217;s joint\u00a0CPI inflation reading for both the EU and the UK.<\/strong><\/li>\n<\/ul>\n<p>The EUR\/GBP climbed around 0.4% on Tuesday in one of the pair&#8217;s single-best trading days since early September, rising from the opening bids near 0.8648 to close out around 0.8682, and setting a high for the day at 0.8690.<\/p>\n<p>With only inches to go from the 0.8700 handle, the Euro (EUR) finds itself heading into Wednesday&#8217;s double-feature of UK and EU inflation figures.<\/p>\n<p>UK Average Earnings missed the mark on Tuesday, with wages including bonuses for the quarter into August growing by 8.1% against the forecast 8.3% and coming in below the previous reading of 8.5%.<\/p>\n<p>On the EU side, the ZEW Economic Sentiment Survey for October showed an unexpected rebound in economic confidence, with the index printing a firm 2.3 compared to the forecast -8 and previous reading of -8.9.<\/p>\n<p>Wednesday sees UK <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Consumer Price Index<\/a> (CPI) inflation numbers, with the headline annualized inflation reading expected to tick down from 6.7% to 6.5% for September.<\/p>\n<p>On the EU side, EU CPI inflation is broadly expecting to hold steady, with the Core CPI reading for September to show flat at 0.2% for the month.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\">The European Central Bank (ECB)<\/a> President <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd\">Christine Lagarde<\/a> is also expected to make an appearance, and investors will be keeping an eye out for any statements about the ECB&#8217;s forecasts on possible interest rate moves.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/GBP Technical Outlook<\/h2>\n<p>Despite Tuesday&#8217;s bumper green bar for the day, the EUR\/GBP remains trapped within familiar price action, with September&#8217;s swing high into the 0.8700 handle seeing constraining technical resistance from a slowly descending 200-day Simple Moving Average (SMA).<\/p>\n<p>On the downside the 50-day SMA is seeing some lift into the 0.8620, keeping bids trapped in the middle, and the last swing low into 0.8620 will be the level to beat for EUR\/GBP sellers in the near-term.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/GBP Daily Chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/GBP Technical Levels<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The EUR\/GBP bounded into 0.8680 after EU data beats climbed over UK earnings miss. EU sentiment came in above expectations, while UK wages failed to meet the market median forecast. EUR\/GBP\u00a0traders will be looking ahead to Wednesday&#8217;s joint\u00a0CPI inflation reading for both the EU and the UK. The EUR\/GBP climbed around 0.4% on Tuesday [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":47143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,842,257,276,927,255,250,252,247,253,249,256,254],"class_list":["post-176249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cpi","tag-cryptocurrency","tag-currencies","tag-eurgbp","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176249"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176249\/revisions"}],"predecessor-version":[{"id":176251,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176249\/revisions\/176251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/47143"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}