Anna 
During the early European trading hours on Tuesday, the EUR/GBP cross maintained positive momentum below the mid-0.8500s. The cross recorded a gain of 0.16% on the day, currently trading around 0.8540. This upward movement follows the release of UK Labor Market data and German inflation figures.
The UK Office for National Statistics reported that the ILO Unemployment Rate for the three months to February came in worse than expected, rising to 3.9% from the previous reading of 3.8%. Additionally, the number of people claiming jobless benefits increased by 16.8K in February, compared to a gain of 3.1K in January. The UK Employment Change for January was -21K, contrasting with a 72K increase in December.
On the Eurozone front, German Consumer Price Index (CPI) data for February met market expectations, with the CPI holding steady at 0.4% MoM and 2.5% YoY. The Harmonized Index of Consumer Prices (HICP) for the same period was in line with expectations, reporting figures of 0.6% MoM and 2.7% YoY.
Looking ahead, traders are anticipating the release of UK monthly Gross Domestic Product (GDP), Industrial Production, Manufacturing Production, and Trade Balance data for January on Wednesday. The market will closely monitor these releases for potential trading opportunities around the EUR/GBP cross.
