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EUR/GBP: The ECB meeting will be held June 1-2 _31/05/2016

Technical analysis and trading recommendations - https://fxpcm.com/en/fx/eurgbp-ecb-meeting-will-be-held-june-1-2-31052016

According to the latest poll of the sociological service ORB for the newspaper The Daily Telegraph, the number of Britons who want to remain part of the EU, accounting for 51% of the country's exit from the EU would vote is now around 46% of the UK population. Politics British Prime Minister David Cameron, lobbied for it to remain in the United Kingdom European Union, a number of advantages, of which he was able to achieve for the UK in Brussels, as well as the active promotion by the forces working for European integration, are bearing fruit.

Back in late April, the Organization for Economic Cooperation and Development (OECD) stated that in case of EU the UK economy in 2020 would be 3% less than it would be in the case if the country remains in the EU. The head of the Bank of England Governor Mark Carney said that if the UK population will vote for the country's withdrawal from the EU, the pound may lose 20% of its value.

Second consecutive month EUR / GBP pair is reduced. Previous 4-month growth was accompanied by growth of pair euro amid falling European stock markets and the euro as a currency repurchase funding, as well as the weakness of the pound under pressure from the UK exit from EU risk composition. The number of supporters of EU output has increased at the time after a series of terrorist attacks in Belgium in March this year.

The pound remains strong after a series of positive data, including retail sales for April, and the publication of poll results, according to which more than 50% of the UK population against the exit of the country from the EU structure, while the euro dropping in value of the foreign exchange market amid rising European and world indices and the strengthening of the US dollar.

The meeting of the European Central Bank's Governing Council will be held in Vienna on 1-2 June. On Thursday (11:45 GMT) will be published on the ECB's decision on interest rates. The ECB is unlikely to take any action at this meeting to stimulate inflation and the euro area economy. In a subsequent press conference, ECB President M.Dragi made comments on the current situation and give forecasts for economic growth and inflation in the euro area.

In anticipation of the meeting of the ECB euro will remain weak, including in cross-pair EUR / GBP.

Tuesday, 31 May, 2016 / 10:56

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Source : http://fxpcm.com/en/fx/eurgbp-ecb-meeting-will-be-held-june-1-2-31052016

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