Idea of the Day There are two interesting and diverging trends in Europe. Both the ECB and Bank of England announced various forms of “forward guidance” in the middle of the year, promising to keep rates low for a long time. Both are unravelling in very different ways, with the pressure on the ECB to lower rates (or more likely offer alternative policy prescriptions) whilst the Bank of England has continued to see firmer than expected data undermining the view that rates could be steady for a further two years. This has played out well on EURGBP so far this month, which has fallen nearly 2%. This is the biggest one week fall since March of this year. Policy action, or hints thereof, from the ECB this week could well see this trend enhanced, with the early October lows of 0.83327 in focus. Data/Event Risks GBP: Industrial production data was on the weak side in August, with a modest bounce-back of 0.6% MoM after the 1.1% decline seen previously. Sterling would certainly welcome a stronger reading, which would help sterling achieve a stronger foothold above the 1.60 level. Latest FX News EUR: The single currency seeing some recovery during the Asia session, spending most of it above the 1.35 level on a general weaker dollar tone. GBP: As we’ve mentioned before, sterling really struggling for air above the 1.60 area, but the stronger than expected services PMI data for September allowed for a push towards 1.61. The Bank’s forward guidance on rates is looking increasingly fragile. AUD: Trade balance was better than expected, allowing a small push higher in the Aussie. Data showed downward revision to August number, with September at AUD -284mln. So far, push back above the 0.9500 level sustained, but remains lower vs. level seen just ahead of RBA statement. Further reading: EUR/USD Nov. 6 – Steady Despite Weak PMIs and Retail Sales NZD/USD back to uptrend channel on excellent job figures FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next Will EUR/ZAR break out of its trading range? Guest 9 years Idea of the Day There are two interesting and diverging trends in Europe. Both the ECB and Bank of England announced various forms of "forward guidance" in the middle of the year, promising to keep rates low for a long time. Both are unravelling in very different ways, with the pressure on the ECB to lower rates (or more likely offer alternative policy prescriptions) whilst the Bank of England has continued to see firmer than expected data undermining the view that rates could be steady for a further two years. This has played out well on EURGBP so far this… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.