GBP EUR Exchange Rate: The Week Ahead May 15th
The GBP EUR exchange rate recovered from the previous week’s sell-off with a move above the 1.1700 level. Boris Johnson has said the government will “do things” to stave of the cost-of-living pressures in the country. One of those things could be a windfall tax on the oil industry, which has been boosted by higher commodity prices.
The GBP to EUR was trading near the 1.1750 level heading into the weekend and will look to hold gains there with employment and inflation released for the...
GBP EUR Exchange Rate: Weekly Review May 14th
The GBP EUR exchange rate rallied from a sharp drop in the previous week as traders absorbed the recent Bank of England rate hike and forecasts. There are few positives in economic data for both the UK and Eurozone, which has led to a consolidation pattern in the pound sterling versus the euro. Thursday’s GDP update for the UK saw weakness in the economy but maybe not as bad as feared and sterling moved higher into the weekend.
The GBP v EUR was trading near...
GBP EUR Higher After UK GDP Data for March
The GBP EUR exchange rate was 0.54% higher after the release of GDP data for March. Data released by the Office for National Statistics on Thursday showed that GDP fell by 0.1% in the month, which was slightly worse than the 0% growth forecast.
The GBP to EUR trades at 1.1713 as it tries to hold onto gains on another bounce from losses.
UK economy shrinks in March as GDP is hit by cost-of-living issues
The UK economy contracted in March after the cost-of-living crisis started to...
GBP EUR After German Inflation Data Soars
The GBP EUR exchange rate was higher after German inflation hit an all-time high for the second month in a row. The Bundesbank also said that the price rises would near 7% for this year. In the UK, Boris Johnson was again talking of tearing up the Northern Ireland protocol.
The GBP to EUR trades at 1.1700 but may find it hard to hold gains above that level after recent failures.
Bundesbank warns of soaring inflation in Germany this year
Inflation in Germany is set to near...
GBP EUR Lower After Retail Sales Disappoint
The GBP EUR exchange rate was lower on Tuesday as retail sales disappointed with consumer confidence hurt. The Chancellor has hinted that tax cuts may be on the way to ease the burden. In France, Emmanuel Macron has poured cold water on Ukraine’s hopes for joining the EU anytime soon.
The GBP to EUR trades at 1.1670 and will support at lower levels.
UK homeowners warned to brace for 3.5% interest rates
Felicity J Lord partner James Baring warned interest rates "will continue to go up" and...
GBP EUR Edges Higher but Further Downside is Likely
The GBP EUR exchange rate was flat on Monday after last week’s sell-off but the next path is likely lower. The euro has gained from last week’s Bank of England (BoE) meeting, where the outlook for the British economy was revised lower. The political pressures continue to hover around the pound sterling with a new Northern Ireland government, led by Sinn Fein, set to rattle the Westminster cage.
The GBP to EUR trades below the 1.1700 level and will look for support below there.
Northern Ireland...
GBP EUR Could Head Lower After Growth Revisions
The GBP EUR exchange rate was slammed lower last week after the Bank of England (BoE) revised its economic growth projections lower. The BoE raised rates to 1% as many had expected but had a grim outlook for energy bills and inflation. The week ahead will hinge on European data with ZEW sentiment for Europe and Germany the feature on Tuesday.
The GBP to EUR opened the week below the 1.1700 level and has surrendered recent support at 1.1800.
Haldane’s revenge as Bank of England raises...
GBP EUR Exchange Rate: The Week Ahead May 8th
The GBP EUR exchange rate was hit hard on Thursday last week as the Bank of England (BoE) raised interest rates and offered stark projections into the end of 2023. The UK is set for higher energy bills in October which will tip the country into negative growth for the fourth quarter, according to the BoE. Their forecast for 0.25% growth next year is as good a warning of recession as you can get from optimistic policymakers.
The GBP to EUR was trading near the...
GBP EUR Exchange Rate: Weekly Review May 7th
The GBP EUR exchange rate was smashed lower on Thursday as traders reacted to the latest Bank of England (BoE) interest rate hike. A move to 1% interest rates was met with six voting members who wanted 1.25%. The BoE also had dire forecasts for growth and energy bills with households set to feel the squeeze once more.
The GBP v EUR crashed through the previous 1.1800 support level and may head lower in the weeks ahead.
Bank of England shocks markets with recession warnings
The Bank...
GBP EUR Smashed Lower After BoE Meeting
The GBP EUR exchange rate was -1.25% lower after the Bank of England (BoE) interest rate meeting. The BoE raised rates to 1% as many analysts had expected but had a scary outlook for energy bills and inflation. The chances of taming inflation without a recession are also extremely challenging, with a forecast for negative growth in the final quarter.
The GBP to EUR was trading at 1.1735 after dumping to almost 1.1700 on the news.
Bank of England warns of 10% inflation and high energy...
