EUR/GBP trades flat on Friday, consolidating within the tight range seen so far this week. The subdued price action suggests bears are taking a breather after five consecutive weekly losses that pushed the cross into oversold territory.
Commerzbank’s Tatha Ghose notes that the Czech National Bank (CNB) delivered a widely expected 25 bp hike to 4.00%, but a narrow 4–3 vote and ‘fine-tuning’ language signal low odds of further tightening. Staff forecasts show inflation above target in 2027 and softer growth.
The United States (US) Bureau of Labor Statistics (BLS) is set to release October Nonfarm Payrolls (NFP) data on Friday at 13:30 GMT. The report is expected to show an increase of 65K jobs, up from 29K in the previous month.