{"id":67867,"date":"2015-02-10T07:16:57","date_gmt":"2015-02-10T12:16:57","guid":{"rendered":"http:\/\/countingpips.com\/?p=67867"},"modified":"2015-02-10T07:44:07","modified_gmt":"2015-02-10T12:44:07","slug":"sterling-hits-fresh-10-year-highs-versus-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/02\/sterling-hits-fresh-10-year-highs-versus-euro\/","title":{"rendered":"Sterling Hits Fresh 10-year Highs versus Euro"},"content":{"rendered":"
February 10, 2015<\/div>
\r\n<\/div><\/div>

Article by ForexTime<\/a><\/p>\n

Sterling logged a two-week low against the euro as the EUR\/USD currency pair dropped below 1.13. The pound found a bid following an upside surprise in UK manufacturing output data, which came in at 2.4% year over year in January, up on the median for 2.1% and from an upwardly revised 3.0% in November.
\nAfter a solid run of UK data, highlighted by the January PMI surveys that showed all three sectors manufacturing, construction and services, beating expectations, sterling is likely to appreciate. Incoming data is expected to continue to paint a similar picture.<\/p>\n

U.K. December production data are mixed, with industrial production falling short of expectations at 0.1% month over month and 0.5% year over year growth, and manufacturing output exceeding the median forecast at 0.1% month over month and 2.4% year over year. Back revisions were positive, with manufacturing production revised to 0.8% month over month from 0.7% and to 3.0% year over year from 2.8% year over year. This broader industrial production figure decelerated from the 1.1% year over year growth pace seen in November, but this shouldn\u2019t perturb markets much as the January PMI manufacturing survey has portended a rebound in activity in January.<\/p>\n

The EUR\/GBP logged a fresh low for the current move keeping the down trend of the currency pair intact.\u00a0 Momentum is negative as the MACD is printing in the red with a downward sloping trajectory.\u00a0 The relative strength index is printing a reading of 35, which is on the lower end of the neutral range.\u00a0 The next level of target support for the currency pair is the weekly highs made in 2005 at 0.7150.<\/p>\n

\"eurgbp-021015\"<\/a><\/p>\n

 <\/p>\n

\n

\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime Sterling logged a two-week low against the euro as the EUR\/USD currency pair dropped below 1.13. The pound found a bid following an upside surprise in UK manufacturing output data, which came in at 2.4% year over year in January, up on the median for 2.1% and from an upwardly revised 3.0% […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-67867","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/67867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=67867"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/67867\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=67867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=67867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=67867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}