EUR/GBP: A 0.8600-0.8700 range may be the story for the majority of October.

EUR/GBP is settling into a 0.8600-0.8700 range and that may be the story for the majority of October. There are only a few inputs ahead of the next BoE meeting on November 2nd, where we look for unchanged rates at 5.25%. One such input is Thursday’s release of the BoE Decision Maker Panel survey, which we think will show a further easing in price pressures. This could prove mildly Sterling negative in that the market is still pricing 18 bps of further BoE tightening over the coming months.

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EUR/USD drops to 1.0550 ahead of PMIs, Powell

EUR/USD is in the red near 1.0550, having broken the Asian consolidation to the downside in the European session on Monday. The pair is weighed by a buoyant US Dollar amid higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell’s speech eyed.

EUR/USD News

GBP/USD struggles below 1.2200, awaits central banks’ speakers

GBP/USD is trading below 1.2200, struggling to gain any meaningful traction in the European trading on Monday. The risk-on impulse is seen undermining the safe-haven USD and lending support to the major. US PMI, BoE and Fed speeches awaited.

GBP/USD News

Gold price consolidates near multi-month low, awaits US ISM PMI and Fed Chair Powell’s speech

Gold price continues losing ground for the sixth straight day and drops to a near seven-month low. Bets for further policy tightening by the Fed turn out to be a key factor weighing on the “XAU/USD”.