EUR/GBP trades marginally down as the Pound Sterling outperforms the Euro.
The final estimate of the UK Manufacturing PMI is revised above 50 signifying growth in the sector.
The interest outlook for the Eurozone and Britain are broadly similar leading to a range bound dynamic.
EUR/GBP edges lower into the 0.8550s on Tuesday, on the back of strong UK Manufacturing data. The pair, however, remains plum in the middle of its long-term range stretching the length of 0.8500.
The S&P Global/CIPS Manufacturing PMI final reading for March showed a revision to above the 50 level distinguishing growth from contraction, and beating the preliminary estimate of 49.9, according to data from S&P Global. It is the first time since 2022 that the gauge has risen above 50.
In comparison Eurozone Manufacturing failed to move above the 50 level even though it also came out above preliminary estimates. HCOB Eurozone Manufacturing PMI rose to 46.1 in March, beating the flash estimate of 45.7.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.