The post The Euro firms against the Pound, supported by the 100-day SMA appeared on BitcoinEthereumNews.com.

EUR/GBP steadies on German Retail Sales and Inflation data. The Eurozone faces pressure as the ECB reassesses its potential interest rate path. The British Pound fails to extend gains despite rising inflation and a positive growth outlook. The Euro (EUR) is firming against the British Pound (GBP) on Friday, with EUR/GBP holding above the 100-day Simple Moving Average (SMA) near 0.8415. This week has seen notable contrasts between the United Kingdom and the Eurozone, particularly as markets factor in how the Bank of England (BoE) and the European Central Bank (ECB) are likely to approach the coming months. Germany’s Retail Sales figures send mixed signals to Euro traders Germany’s April Retail Sales fell by 1.1% MoM, a sharper drop than the 0.2% increase that had been expected. Despite the weak monthly figure, the annual reading came in stronger than forecast at 2.3%, providing some reassurance that underlying demand hasn’t collapsed. German inflation data provides a potential headwind for the ECB The Preliminary Consumer Price Index (CPI) figures for May were in line with expectations, matching forecasts on both a monthly and yearly basis.  However, the preliminary Harmonised Index of Consumer Prices (HICP) — which reflects inflation in a format standardised across European Union member states — rose by 0.2% MoM (vs. 0.1% forecast) and 2.1% YoY (vs. 2.0% forecast). Overall, the data paints a picture of a sluggish consumer environment with inflation still running a little hotter than ideal, keeping pressure on the ECB as it assesses when to place its monetary easy policy on hold. Meanwhile, recent Inflation data released from the United Kingdom (UK) this week surprised to the upside. Additionally, the International Monetary Fund (IMF) raised its growth outlook for the UK on Tuesday, leading to expectations that the BoE may hold rates steady for a longer…

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Filed under: News - @ May 30, 2025 6:29 pm