Pound to Euro: Rocky Week for EUR as Eurozone GDP Crash Expected

Pound to Euro: Rocky Week for EUR as Eurozone GDP Crash Expected

The ongoing developments of COVID-19 and its global spread of ravaging economies could be catching up with the Eurozone as Friday marks the release of the Bloc’s Q2 Gross Domestic Product release. Should the pandemic show its true colours in how damaging it has been within Europe, FX Street has made predictions that following the Q1 release at the 3.1% contraction, Q2 could fall to more than 4X the size at a shocking -14.5%. Whilst the nature and circumstance of this release could have...
Better Than Expected UK Data Supports Pound to Euro Exchange Rate

Better Than Expected UK Data Supports Pound to Euro Exchange Rate

The pound to euro exchange rate has been under pressure of late with poor economic data and the prospect of a slower return to growth than other economies being a couple of reasons for that weakness. However, economic data released on Friday showed activity in the UK’s dominant services sector and retail sales has risen faster than expected. Retail Sales data released by the Office of National Statistics showed an increase in June of 13.9 percent against a market expectation of 8 percent. This release...
Pound Sterling Forecast – How will GBP perform in August?

Pound to Euro Exchange Rate – Will the Pound Rise or Fall Ahead?

This week proved another challenging one for the pound to euro exchange rate as it both rose and fell, reflecting many mixed signals in the currency market and the world. By nature a ‘mixed’ picture of events reflects a lack of clarity, and therefore we have seen the pound at time weaker on this uncertainty and lack of clarity. For the UK the effects of Coronavirus are clear with a marked slowdown in the economy and increased uncertainty over the future health and economic outlooks...
Pound to Euro Rate Remains Vulnerable

Pound to Euro Rate Remains Vulnerable

Sterling to euro exchange rate remains fragile due to a number of determining factors. The pound is rarely the destination of choice during times of global economic uncertainty. This can be attributed to the huge imbalance between imports and exports. The pandemic has also caused huge damage to the UK economy, but of course other nations are suffering similar problems. Sterling Hampered by High Risk of No-deal Brexit It seems the key market mover is Brexit with talks being problematic from the outset. Many believed...
Pound Sterling Forecast – Will GBP rise further in August?

Pound Sterling Forecast – Mixed Fortunes for Sterling Exchange Rates Reflecting Uncertainty Ahead

The pound has been particularly volatile this week, rising and falling as sentiment on the key topics at present, Brexit and the Coronavirus outlook, continue to shape not just attitudes to the pound, but also other currencies like the Euro and the US dollar. GBPEUR interbank rates have epitomized this volatility, rising and falling between 1.0946 and 1.1109 on the interbank exchange rate. Meanwhile. GBPUSD has also experienced volatility rising and falling between 1.2516 and 1.2766 in the last week. For clients interested in GBPAUD it...
Pound to Euro Exchange Rate Fights Back

Pound to Euro Exchange Rate Fights Back

The Pound to euro exchange rate has managed to begin its recovery against the Euro at the start of this week. Yesterday Bank of England Andy Haldane claimed that ‘roughly half of the roughly 25% fall in activity during March and April has been clawed back over the period since.’ With the government having announced further lockdown easing last Friday the UK economy is moving forwards trying to get people outside once again in an attempt to increase consumer spending. Indeed, Chancellor Risihi Sunak’s plan to...
Will the Pound Continue to Fall?

Pound to Euro Rate as EU Summit Discussions Continue

The pound to euro rate site lower at the start of this week with rates for GBP to EUR still trading below 1.10 after the decline seen on Friday. Rates for GBP vs EUR have touched a low of 1.0943 this morning. Reports are emerging that a deal could be in sight from the EU summit as soon as today as talks are now continuing into the 4th day following overnight discussions. So far from the EU summit this weekend there has been no...
Will the Pound Continue to Fall?

Will the Pound Continue to Fall?

The pound ended the week more than 1.5 per cent lower against the euro and 0.5 per cent lower against the US dollar, closing at 1.0998 and 1.2567 respectively. It was another difficult week for the UK currency as Brexit nervousness, poor economic data and investors risk appetite all weighed on the pound. Will the pound continue to fall into next week? Key UK GDP data for the month of May fell well below market expectation of 5 per cent with a reading of...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Pound Sterling Forecast – Could Sterling Fall Lower Still?

The pound ended this week struggling with mounting concerns over the UK’s economic performance. The pound this week suffered its biggest weekly loss against the Euro since May, with the interbank rate touching lows of 1.0947. Against the US dollar and other currencies it was a similar picture with the pound losing ground against many currencies following a week of poor data and continued concerns over the economic impact of the Coronavirus, the policy response by the Bank of England and the potential for this...
Pound to Euro Exchange Rate Down More Than 1% at Week End

Pound to Euro Exchange Rate Down More Than 1% at Week End

The pound to euro exchange rate has lost almost 1.5 percent this week as it has fallen from 1.1172 to 1.1020. GBPEUR remains sensitive to investors 'risk appetite and US stock market activity. When US stock falls, the pound to euro rate typically falls although when the US stock market rises, the pound to euro is not gaining equally and has remained somewhat subdued. The pound has arguably been one of the worst performing major currencies this past month as UK domestic issues weigh...