The Euro Rises in a Steady Market, While the Pound Declines

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

The euro has begun the week on a high note. EUR/USD is currently trading at 1.2213, up 0.32 percent in the North American session. There are no economic releases from the eurozone on Monday since it is a national holiday in most of Europe. Nonetheless, the euro is gaining strength and has entered the 1.22-zone.

Today’s markets are in a state of consolidation, with no progress. The pound is trading slightly lower, trailed by the Australian dollar and the US dollar. After a brief dip, the New Zealand Dollar has firmed slightly. The Euro and Swiss Franc have also risen in value, aided by buying against the Pound. Gold is slipping in a range underneath the 1900 mark, but it appears to be poised to increase its strong gains.

On Tuesday, the emphasis will be on German results. The prestigious Ifo Business Confidence Index for May will be published (8:00 GMT). The index has risen for three months in a row, and the trend is expected to continue. The May consensus is 98.2, up from 96.8 in the previous release.

Euro Steadies As Pound Saw Some Selling for 2nd Day in a Row

On Monday, comments from Bank of England (BoE) officials failed to elicit a significant market response. Governor Andrew Bailey of the Bank of England testified before the Treasury Select Committee that the current growth and inflation trends do not support the idea that additional monetary support is needed. “I’m pretty happy with where we’re at in terms of strategy,” Bailey said.

Deputy Governor Jon Cunliffe of the Bank of England reiterated the guidance that policy will not be tightened until there is strong proof that spare capacity is being eliminated.

During the mid-European session, the GBP/USD pair retained its offered tone and was last seen hovering near the lower end of the daily trading range, around the 1.4130-25 area. On Monday, the pair extended its retracement drop from the 1.4235 area, or three-year highs, and saw some selling for the second consecutive session.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *