Ella 
EUR/GBP maintained modest losses following mixed UK employment data on Thursday. The cross was trading around 0.8410 during the Asian session on Thursday.
The number of people applying for unemployment benefits in the UK rose to 32,300 in June, exceeding market expectations of 23,400. The previous value was revised from 50,400 to 51,900.
The International Labor Organization (ILO) unemployment rate held steady at 4.4% in the three months to May, unchanged from the previous month. The consensus estimate was also 4.4%.
Meanwhile, the Office for National Statistics reported that employment rose by 19,000 people in the three months to May, indicating a rise in employment. The previous figure was a decrease of 140,000.
On Wednesday, the final value of UK consumer price index (CPI) inflation was in line with expectations, but UK producer price index (PPI) inflation fell more than expected, briefly pushing the pound lower.
Traders turned their focus to the European Central Bank’s (ECB) monetary policy meeting scheduled for later Thursday. The European Central Bank is expected to keep its main refinancing rate unchanged at 4.25% at its July meeting on Thursday.
After keeping interest rates unchanged for nine consecutive months, the European Central Bank cut interest rates in June for the first time since 2019. Analysts predict there could be two more rate cuts later this year, in September and December.
European Central Bank President Christine Lagarde is unlikely to outline a specific path for rate cuts. Instead, Lagarde is expected to stress that more data is needed to ensure confidence in the deflationary process before considering further easing policy.
