EUR/GBP steadies near yearly lows ahead of Eurozone retail sales data
2023.12.05 14:02
© Reuters.
LONDON – The currency pair remained near the 0.8570 mark Tuesday as investors positioned themselves ahead of the upcoming Eurozone Retail Sales data release. The pair has seen more declines than gains in recent sessions, despite positive economic indicators such as BRC Like-For-Like Sales and the HCOB Composite PMI.
Markets are closely watching for the Eurozone Retail Sales figures, scheduled to be published on Wednesday at 10:00 GMT, with expectations pointing to a -1.1% year-over-year contraction. This anticipation comes after a period of the currency pair trading lower from its November highs.
Adding to the cautious sentiment, investors are also preparing to review the UK Financial Stability Report, which will be released earlier on Wednesday at 07:00 GMT. These back-to-back financial disclosures are likely to influence market movements and investor strategies.
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