EURGBP

EURGBP
Trade the most dynamic cross currency pair, EURGBP, with FP Markets. Get tight spreads, low commissions and benefits of a regulated forex broker.
JETZT TRADEN

The EURGBP pair comprises the Euro and the Pound Sterling. The pair is called a trending currency pair because it is generally associated with extensive periods of rising or falling prices, with little fluctuations in between. EURGBP offers high liquidity and is the eighth most traded currency pair globally.

Understanding the Quote

In the EURGBP pair, Euro (EUR) is the base currency, while the Great British Pound (GBP) is the quote currency. The pair represents the amount of GBP needed to buy 1 unit of EUR. So, if the EURGBP is trading at, say 0.8894, you will need £0.8894 pounds to buy €1.

Important Influences on the EURGBP

As two of the most prominently traded currencies, the EURGBP is quite popular in the global financial space. The Eurozone and the British economies are fairly interlinked, given the close physical proximity. The value of this pair is influenced to a large extent by the sociopolitical factors in these two regions. This pair sees significant volatility during periods of sociopolitical uncertainty.

As with other forex pairs, traders keep a close eye on interest rate decisions by both the European Central Bank (ECB) and the Bank of England (BoE). Changes in the monetary policies of the Central Banks can lead to increased volatility in the pair. Other key data to consider are employment reports and the trade balance between the two regions.

While high volatility can lead to multiple trading opportunities, it is preferred to open positions with robust risk management measures in place.

Economic Releases That Impact the EURGBP Pair

For Eurozone:

  • Eurozone core CPI, German CPI, France CPI
  • ECB’s interest rate decision
  • German Current Account Balance
  • Eurozone GDP by Eurostat
  • Interest rate on 3-month Euribor deposits
  • HICP

Check out the Wirtschaftskalender to stay abreast of news and events.

For the UK:

  • Consumer Price Index (CPI) by the Office of National Statistics
  • Gross Domestic Product (GDP) figures by the Office of National Statistics
  • Interest rate decisions by the Bank of England Monetary Policy Committee.
  • Brent Crude Price Fluctuations

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