Recap of European trades on 26.10.2018: EUR, GBP

Recap of European trades on 26.10.2018: EUR, GBP
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    The European currencies did not manage to gather momentum during the European trading session.
    The euro extended losses against its major American counterpart.
    The EUR/USD pair settled below the level of 1.1360.
    Traders are selling the single European currency despite the upcoming Mario Draghi's speech
    in the National Bank of Belgium.
    Him comments are unlikely to produce any major impact on the trading sentiment.
    The ECB Survey of Professional Forecasters also contributed to a sell-off in the euro.
    According to this report, the inflation is not expected to speed up in the nearest future,
    so the ECB will have a reason for maintaining the ultra-loose monetary policy.
    Political factors also influence the market dynamics.
    The Italian issue is still not resolved,
    so the conflict between Italy and the European Commission is unfolding.
    If the sides do not reach a compromise, a crisis can break out in the region.
    The same relations are developing between the United Kingdom and the European Union.
    There is a risk that the Brexit terms will not be agreed after all,
    which can exert downward pressure on the British economy.
    This factor triggered a plunge in the pound sterling.
    The GBP/USD pair has already retreated from the level of 1.2800.
    The cable is set to end this trading week in the negative zone.
    Next week, economic news from Britain can provide support to the pound.
    In particular, on Thursday the manufacturing PMI report and the BOE interest rate decision
    will be released.
    As for now, experts anticipate that the pound sterling will dive lower against the US dollar.
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