Forex traders will get economic data out of the Eurozone’s third biggest economy where expectations call for a monthly increase in Italian new industrial orders as well as sales. Eurozone inflation data will also be released and economists expect it to confirm the absence of inflationary pressures. How will this impact the EURGBP? This currency pair started a strong sell-off after a no deal Brexit has been taken off the table by the UK Parliament. Can today’s economic data initiate a short-covering rally? Follow the PaxForex Daily Fundamental Analysis and take the profitable side of this trade.

Inflation data out of the UK will be front and center today and could add volatility to the British Pound. Economists anticipate a monthly increase in inflation as wages are surging in a tightening labor market. Forex traders await the UK Supreme Court decision about the legality of PM Johnson’s prorogation of Parliament and the bullishness in the British Pound is due for a breather. Will profit taking add to a price action reversal in the EURGBP? This morning’s fundamental analysis will cover price action in both directions.