EUR/GBP looks set to settle into a new, slightly higher range – SocGen EURGBP EURUSD PMI China Banks
IFO is not painting an encouraging picture for growth. Kit Juckes, Chief Global FX Strategist, analyzes EUR outlook.The IFO index was slightly worse than the Eurozone PMI. None of this is Euro helpful, but luckily, the Chinese Politburo’s plans to support the economy, and encouragement for a stable yuan, have boosted risk sentiment, keeping the Euro’s head above water.
Finally, EUR/GBP rate differentials have stabilised, EU-UK PMIs are moving together, and EUR/GBP looks set to settle into a new, slightly higher range.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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