Bookies had slashed odds on Eugenie and husband Jack Brooksbank having their first baby.
Fans were convinced that the pair were to announce royal baby news in the coming weeks.
But now her mum Sarah, Duchess of York has put the rumours to bed.
She made an appearance at American businessman Ernie Boch Jr’s house at the weekend, where she was filmed giving an impromptu speech to guests.
The video – posted on Twitter by Managing Editor of Dailybreak, Kelly Lynch – starts with the 59-year-old saying: “I’m just going through what the journalists say and they’re all here, so I just thought I’d fill it in.”
She spoke about Jack, 33, and joked: “Jack sells tequila for Casamigos, which we love,” referring to his role as brand manager of George Clooney’s company Casamigos Tequila.
“It makes me even more of a yummy mummy because I just drink the tequila when I go and sell it.”
She then addressed the gathering: “What else can I tell you?” before answering the big question on royal fans’ lips.
“No, she’s not pregnant,” she said.
Eugenie, 29, married long-term boyfriend Jack at Windsor Castle last October.
There has since been speculation – as with every royal couple – that the couple will be starting a family soon.
Fergie’s comments come as she and ex-husband Prince Andrew continue to be surrounded by claims they are back together.
She still shares homes with Andrew in the UK and in Switzerland where they have a luxury chalet.