GBP EUR Exchange Rate: Weekly Review January 22nd
The GBP EUR exchange rate was strong this week as economic data supported the rate hike picture and the Prim Minister moved to drop the Plan B restrictions within the next few weeks. Jobs data was mixed, but inflation at 30-year highs was the catalyst and the BoE governor Andrew Bailey admitted that energy costs could remain inflated, while secondary effects in food and clothing were being seen.
The GBP v EUR was heading for the weekend trading at 1.2030.
Employment data and inflation could see...
GBP EUR Soars Above 1.2000 After Rules Dropped
The GBP EUR exchange rate was higher by 0.07% and trading above the key 1.2000 level after further rules were dropped in the UK. The Plan B restrictions are also set to be dropped as Omicron wanes in the UK. France was also set to create a timetable for the easing of rules.
The GBP to EUR was trading at 1.2005 after seeing new highs for the year on Wednesday.
The UK moves to remove restrictions once again
The UK is moving to axe work-from-home advice and...
GBP EUR Soars Above Resistance on Inflation Jump
The GBP EUR exchange rate was higher by 0.20% as inflation jumped to a near 30-yr high. The pair leapt above the recent resistance at 1.2000, which was the high in 2020 as traders see a chance for further Bank of England rate hike action. German inflation was flat at 5.3% and that was another driver of sterling strength against the euro.
The GBP to EUR was trading at 1.2020 and awaits monetary policy minutes from the last ECB meeting.
British inflation hits a thirty year...
GBP EUR Slips as Economy Produces Less Jobs
The GBP EUR exchange rate was lower by -0.12% as the latest employment report came in less than expected. Traders were looking for a gain of 125k jobs, but the report came in at 60k. However, the unemployment rate still improved to 4.1%. ZEW economic surveys for Germany came in much better than forecast despite the ongoing restrictions.
The GBP to EUR was trading at 1.1943 and will await the inflation figures this week.
Employment improves but vacancies at record, wages lag inflation
The UK employment figures...
GBP EUR Consolidates Ahead of Key Economic Data
The GBP EUR exchange rate was steady on Monday as expected, with traders waiting for data being released today. The currency pair was lower by -0.07% to start the week but the day ahead is important to see if UK employment or European and German ZEW survey figures can determine the path of the pair near the resistance at 1.2000.
The GBP to EUR was trading at 1.1970 and will look to the data for direction with inflation coming later in the week.
UK employment could...
GBP EUR Surges as UK Economy Beats Expectations
The GBP EUR exchange rate was higher on Friday as the economy was shown to have recovered to its pre-virus levels. A better-than-expected GDP number boosted sterling and will add support ahead of further data this week, which includes employment and inflation.
The GBP to EUR was trading at 1.1979 heading into the weekend and will look for a further data boost to make another attempt at the 1.2000 level.
UK back at pre-pandemic economic growth rates
The latest three-month GDP update for the UK economy showed...
GBP EUR Exchange Rate: The Week Ahead January 16th
The GBP EUR exchange rate moved above the 2020 highs at 1.2000 last week, but that level proved stubborn once more. The resistance was helped by the admission by the UK Prime Minister that he attended the ill-fated garden party during the first lockdown and an inquiry will decide his fate. The week ahead sees inflation and employment figures for the UK and that will give traders a good picture of the UK economy after Friday’s GDP figures. The euro will see inflation figures,...
GBP EUR Exchange Rate: Weekly Review January 15th
The GBP EUR exchange rate made a move above the 2020 highs at 1.2000 this week but that figure proved stubborn again. Sellers emerged on Wednesday and Boris Johnson created the catalyst calls for the Prime Minister to resign after he admitted to attending a garden party at the height of the first lockdown. Retail sales for the UK were better on Monday with a 2.1% increase, but that included the Christmas boost. The market was awaiting the latest 3-month GDP on Friday, which...
GBP EUR Pauses with Hopes for Peak in Omicron
The GBP EUR exchange rate was slightly higher on Thursday as the drama over Prime Minister Boris Johnson’s pandemic partying subsided. There are also hopes that the Omicron variant has peaked in the UK. However, some analysts are worried that the UK is facing a stagflation economy that caused problems in the 1970s.
The GBP to EUR was trading at 1.1967 and the GDP picture will become clearer after today’s 3-month update into November.
Hopes of Omicron variant peak in the UK
The UK reported over 109k...
GBP EUR Exchange Rate Trading at a Key Level
The GBP EUR exchange rate has been flirting with the 1.2000 level this week, which is the highs in the pair from 2020. Sterling has seen resistance at these price levels, but economic data this week could decide whether we see a breakout. The GDP figures later in the week could be the real catalyst as the economy is forecast to grow at 0.8% in the most recent quarter but could surprise.
The GBP to EUR was trading at 1.1975 on Tuesday and UK retail...
