GBP EUR Higher Ahead of PMI Business Activity

GBP EUR Seeks Further GDP Revision Gains

The GBP EUR exchange rate rallied into the weekend after the UK’s GDP was revised higher meaning the economy was only 3.3% lower than its pre-virus highs. In a week light on economic data, the pair will look to news headlines and analysts will consider the rate situation after last week’s inflation in Germany and Europe came in at 4.1% and 1.9% respectively. The GBP to EUR trades at 1.1690 and is pressing the 1.1700 level once again. UK business confidence 'falls off a cliff' to...
GBP EUR Exchange Rate: The Week Ahead October 3rd

GBP EUR Exchange Rate: The Week Ahead October 3rd

The GBP EUR exchange rate recovered some ground towards the weekend after the final Q2 GDP reading showed a better-than-expected performance for Q2. This helped the pound which has been struggling with the surge in wholesale gas prices and another three firms went bust. In Europe, Germany saw a slight improvement in unemployment, but inflation rose to a thirty-year high. The GBP to EUR was trading above the 1.1650 level once more ahead of a quiet week for data. Worries of stagflation in the UK as...
GBP EUR Exchange Rate: Week in Review October 2nd

GBP EUR Exchange Rate: Week in Review October 2nd

The GBP to EUR exchange rate lost some ground in the week but recovered towards the weekend. At the outset, fears grew over the energy crisis as wholesale gas prices hit another record high. This forced another three firms to stop trading. The week also began with panic buyers descending on UK forecourts and seeing a large number of retailers without fuel. The GBP v EUR was trading back near 1.16500 on Friday after the final Q2 reading for UK GDP came in ahead of...
GBP EUR Jumps as GDP Figures Revised Higher

GBP EUR Jumps as GDP Figures Revised Higher

The GB PEUR exchange rate was jumped 0.53% on Thursday after the Q2 GDP figure was revised higher. The annualised growth for the quarter had been set at 22.2% but came in higher at 23.6%. Germany’s unemployment rate also showed a modest retreat for the month of September. The GBP to EUR trades at 1.1630 and the pair awaits European core inflation today for September, while inflation missed forecasts. UK second-quarter economic rebound stronger than first thought The bounce-back in the UK economy was faster than first...
Pound to Dollar Rate Pares Losses

GBP EUR Lower as Three More Energy Firms Stop Trading

The GBP EUR exchange rate was lower by 0.14% as three more UK energy suppliers ceased trading. The news follows the recent collapse of nine other firms as a spate of companies have been affected by an unprecedented surge in wholesale gas prices.  The pound and euro will see data today in the form of a UK GDP confirmation for Q2 and German employment and inflation updates. The GBP to EUR trades at 1.1565 ahead of today’s economic releases. Three more UK energy firms to cease...
Pound to Dollar Rate Buoyed by BoE Comments

GBP EUR Surges After Bailey Hints at Rate Rise

-The bank recently upgraded their inflation expectations to above 4% by year-end. The GBP to EUR trades above the 1.1700 with the yearly highs above 1.1800 and will see German consumer numbers released today. Bank of England sees higher rates due to inflation BoE governor Andrew Bailey told the Society of Professional Economists on Monday evening that “all of us (in the MPC) believe that there will need to be some modest tightening of policy to be consistent with meeting the inflation target (of 2%) sustainably over...
GBPEUR to Move on German Election and Consumers

GBP EUR to Move on German Election and Consumers

The GBP EUR exchange rate opens the week above the 1.1650 level as the votes get counted in the German election. Monday will also see the latest consumer confidence release for the German economy. Angela Merkel’s party had a difficult night at the election but may still share the victory. The GBP to EUR will have further German data this week with employment and inflation numbers. German election result still uncertain Germany is set to have its first government with three parties after Angela Merkel's CDU/CSU bloc...
GBP EUR Exchange Rate: The Week Ahead September 26th

GBP EUR Exchange Rate: The Week Ahead September 26th

The GBP EUR exchange rate was flat on the week but was able to recover from early week losses based on the failure of energy firms which is set to affect millions of UK consumers. The Bank of England kept rates steady at 0.1% on Thursday but warned of inflation above 4% into the second quarter of 2020. They still refused to cut stimulus measures and advise on a faster rate hike. The GBP to EUR was trading above the 1.1700 level once again and...
Pound to Dollar Rate Consolidates Gains

GBP EUR Exchange Rate: Week in Review September 25th

The GBP to EUR exchange rate was flat this week but the pair was able to repair damage earlier in the week after the latest Bank of England meeting. The bank held interest rates at record lows but warned of inflation above 4% into 2022. The UK economy also fared better than Germany and the larger eurozone on PMI business activity data. This helped to alleviate selling pressure early in the week after nine UK energy firms went bust due to a 250% increase...
GBP EUR Surges After Bank of England Rate Update

GBP EUR Surges After Bank of England Rate Update

The GBPEUR exchange rate surged back above the 1.1700 level again after the Bank of England maintained stimulus levels and warned of 4% inflation this winter. The bank kept interest rates near zero and refused to discuss any tapering of current support. The GBP to EUR trades near 1.1700 despite a dip in PMI business activity data for September for the UK. Bank of England warns of higher inflation this winter The Bank of England released its latest monetary policy remarks and warned that inflation will rise...