Euro gains sharply at the beginning of new month

Euro kicked off March on a strong note as fresh preliminary inflation data from France and Spain showed price pressures accelerated last month. Also inflation in North-Rhine Westphalia, the most densely populated part of Germany, also increased. Markets price in ECB to lift rates by another 50bps in March, while the peak rate for the deposit facility is projected to reach 4% in February of 2024, above the 3.9% seen in late February.

On the other hand, the British pound is one of the worst performing G10 currencies today as fresh comments from BoE Governor Bailey overshadowed optimism over Britain's agreement with the EU on post-Brexit trade regarding Northern Ireland. Bailey said further rate hikes may be appropriate but nothing is decided as inflation has been slightly weaker, and activity and wages slightly stronger. It seems that his indecisiveness was perceived well by the markets.

EUR and NZD are the best performing major currencies while GBP and USD lag the most. Source: xStation5

EURGBP rose sharply at the beginning of today's session, however buyers struggle to reach major resistance at 0.8875, which is marked with previous price reactions and 23.6% Fibonacci retracement of the upward wave launched in December 2022. As long as price sits below, pullback towards local support at 0.8815. cannot be ruled out. Source: xStation5

10 July 2026, 18:35

Daily Summary: The week ends on a positive note. SK Hynix up 14% on Nasdaq. Energy down (10.07.2026)

10 July 2026, 17:03

Fed presents its semi-annual report. Stocks are expensive but no bubble?

9 July 2026, 10:33

Oil prices retreat and chip stocks rally, as market normalize to lates flare up

9 July 2026, 07:50

Economic calendar: ECB minutes, US jobless claims and PepsiCo earnings in focus

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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