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Forex: EUR/GBP flat at month end

FXstreet.com (Barcelona) - The EUR/GBP is trading sidelined to the opening price of 0.8436. The cross has been under pressure since March 12, easing from 0.8794 high, and yesterday’s down move found its low at 0.8416 before bouncing. The market is pretty still as many countries celebrate the Good Day.

Italy Producer Price Index in February came in lower than expected: the monthly figure at 0.1% (consensus of 0.5%) and the annualized figure falling from 0.7% to 0.3% (consensus of 0.7%). The preliminary release of the Italian Consumer Price Index in March was below consensus, at 1.7% YoY (consensus of 1.8%) and 0.3% MoM (consensus of 0.4%). EU normalized, the CPI rose 2.3% (consensus of 2.2%) on the month. The Greek PPI rose 0.8% in February and Retail Sales fell further, from -8.3% to -16.4% in January.

Mataf.net analysts point to resistance at 0.8440, 0.8475 and 0.8495. On the downside, support might be found at 0.8415, 0.8390 and 0.8360.

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