GBP EUR Stuck in Range at 1.1700 Level

GBP EUR Stuck in Range at 1.1700 Level

The GBP EUR exchange rate opens the week at 1.1700 as the market absorbs the European Central Bank meeting. The market will see a three-month GDP update from the UK economy on Monday. The outlook for UK economic growth has been pretty grim in recent weeks. The GBP to EUR has been trading in a range between the 1.1650-1.1850 levels since early May. UK economy will give a stagflation update Economic data released today will be a 3-month GDP update for the UK economy which is expected...
GBP EUR Exchange Rate: The Week Ahead June 12th

GBP EUR Exchange Rate: The Week Ahead June 12th

The GBP EUR exchange rate was higher this week after stronger PMI figures and a European Central Bank announcement that was still reasonably dovish. The week ahead will have further data for traders to chew on with UK GDP, German inflation and employment numbers for Britain. The GBP to EUR was trying to hold support at 1.1700 this week and this week’s data will determine the path ahead. European Central Bank rate hike picture becomes clear The European Central Bank finally signalled a rate hike for July,...
GBP EUR Exchange Rate: Weekly Review June 11th  

GBP EUR Exchange Rate: Weekly Review June 11th  

The GBP EUR exchange rate was higher this week after stronger than expected PMI revisions for the UK economy. The European Central Bank also telegraphed a 25bps interest rate hike in July, which was not as aggressive as some had hoped. The European economy saw its PMIs revised lower and the OECD downgraded the world economy. Boris Johnson also survived a confidence vote and that ends some political distraction. The GBP v EUR was heading for the weekend trading trying to hold the 1.1700 level...
GBP EUR Higher with ECB Plan for July Rate Hike

GBP EUR Higher with ECB Plan for July Rate Hike

The GBP EUR exchange rate recovered from Wednesday’s drop with a 0.10% bounce higher. The European Central Bank has signalled a 25bp interest rate hike in July as expected. The pound sterling is higher as some traders hoped for a 50bp increase. The GBP to EUR was trying to regain the support level at 1.1700. European Central Bank ends ultra-loose policy The European Central Bank announced on Thursday that it would raise interest rates for the first time in over ten years in July to combat soaring...
A Rollarcoaster Week for GBP EUR - Weekly Review June 18th 

GBP EUR Gains Ahead of ECB Rate Meeting

The GBP EUR exchange rate was 0.15% higher as the pound sterling gains from the Boris Johnson vote. The PM surviving the confidence vote means another challenge cannot happen for a year. Markets will get back to economic data and the European Central Bank (ECB) will meet Thursday to decide on interest rates. The GBP to EUR was trading at 1.1730 with support holding at the 1.1700 support level. Pound sterling boosted as PMIs revised sharply higher After initial gloom in the UK services sector activity report,...
GBP EUR Higher Ahead of Prime Minister Vote

GBP EUR Higher Ahead of Prime Minister Vote

The GBP EUR exchange rate was 0.55% higher on Monday, as Britain gets back to normal after the weekend Jubilee celebrations. Boris Johnson is still under pressure as he inches towards a confidence vote in his leadership. The GBP to EUR was trading at 1.1712 as it seeks to hold the 1.1700 support level. Boris Johnson to face a vote of confidence on Monday Boris Johnson was set to face a vote of no confidence in his leadership on Monday evening. At least 180 Tory MPs need to...

GBP EUR Higher Ahead of Prime Minister Vote

The GBP EUR exchange rate was 0.55% higher on Monday, as Britain gets back to normal after the weekend Jubilee celebrations. Boris Johnson is still under pressure as he inches towards a confidence vote in his leadership. The GBP to EUR was trading at 1.1712 as it seeks to hold the 1.1700 support level. Boris Johnson to face a vote of confidence on Monday Boris Johnson was set to face a vote of no confidence in his leadership on Monday evening. At least 180 Tory MPs need to...
GBP EUR Near Yearly Highs on Russia Fears

GBP EUR Near Yearly Highs on Russia Fears

The GBP EUR exchange rate will start the week with German inflation figures which could be a price driver if the number deviates from the rise to 7.6% expected by analysts. UK Prime Minister Boris Johnson will likely face further criticism as more MPs and senior Tory figures round on his leadership. The GBP to EUR starts the week trading at the 1.1761 level and is trying to hold support at 1.1700 again. Pressure could build on Boris Johnson to depart Senior Tory MPs were rounding on...
GBP EUR Stuck in Range at 1.1700 Level

GBP EUR Exchange Rate: The Week Ahead May 29th

The GBP EUR exchange was hurt this week by PMI numbers which showed a sharp slowdown in the services sector. Chancellor Rishi Sunak announced a £15bn emergency package to help families struggling with energy bills. That move had both supporters and critics and some will see its timing as a deflection from the Sue Gray report with Boris Johnson potentially facing a no confidence vote. Next week will bring German inflation figures on Monday. The GBP to EUR was trading below the 1.1750 level after...
GBP EUR Exchange Rate: Weekly Review May 28th

GBP EUR Exchange Rate: Weekly Review May 28th

The GBP EUR exchange rate lost some ground this week as the European Central Bank (ECB) clarified their plans for July changes to their policy. That will be followed by a potential interest rate hike at its September meeting. In the UK, Chancellor Rishi Sunak announced a £15bn emergency package to help households with the cost-of-living squeeze. The GBP v EUR was trading below 1.1750 heading into the weekend after Mr Sunak’s Thursday announcement. PMI figures dent sterling, Sunak hits oil & gas with a tax...