GBP EUR Lower Before PMI Data and Bank of England

GBP EUR Lower Before PMI Data and Bank of England

The GBPEUR exchange rate was lower again on Wednesday by 0.20% but the day ahead will bring volatility with the latest PMI data for the British and European economies, alongside the BoE interest rate meeting. Traders will focus on the Bank of England after last week’s strong employment and inflation data. The GBP to EUR trades at 1.1615 and traders will be looking for any adjustment to the bank’s monetary policy outlook. Bank of England ‘hawkish hints unlikely’ in latest monetary meeting The Bank of England interest...
GBP USD Rate Consolidates on Interest Rate Expectations

Pound to Dollar Rate Languishes in the 1.36 Mid-range

The pound remained under pressure on Tuesday amid the energy crisis and subsequent global stock market sell-off – and in the absence of notable economic indicators from the UK economy, it was lacking support from elsewhere. The UK currency is vulnerable to a surge in gas prices – and the resulting risk-off mood in markets – that threatens to cut off UK consumers and restrict UK industrial output, with the nation’s unique reliance on gas for electricity output responsible for the sensitivity. What’s more, the...
GBP EUR Higher Ahead of PMI Business Activity

GBP EUR Awaits PMI British and European PMI Data

The GBP EUR exchange rate was flat on Tuesday and now awaits PMI data for the British and Eurozone economies. The pound was pressured on Monday with the surge in energy prices. That was helped by news that Norway was increasing production to Europe starting on October 1st. The GBP to EUR trades at 1.1650 and will look to PMI data today and the Bank of England rate meeting on Thursday. UK public borrowing dips less than expected as debt costs rise British public borrowing was lower...
GBP EUR Jumps as GDP Figures Revised Higher

GBPEUR Slides on UK Energy Price Pressures

The GBPEUR exchange rate tumbled on Monday as traders reacted to a crisis in energy prices.  The situation is so bad that some are comparing it to the 2008 Northern Rock bailout in the banking system. We said yesterday morning that the pound was vulnerable this week after recent failures above the 1.700 level. The GBP to EUR trades at 1.1650 and will look to PMI data on Wednesday and the BoE rate meeting on Thursday. Energy crisis threatens the pound sterling A crunch in the energy...
Pound to Dollar Rate Buoyed by BoE Comments

GBPEUR Looks to Bank of England for Direction

The GBPEUR exchange rate starts the week attempting to hold the 1.1700 level. The first two days of the week may be quiet with no economic data of note. Wednesday will see the latest flash PMI business activity data readings for the UK and Europe. Thursday will be the headline day with the latest BoE interest rate and monetary policy outlook. The GBP to EUR trades at 1.1705 at the start of the week and is vulnerable after recent failures above that price. UK posts fastest...
GBP EUR Exchange Rate: The Week Ahead September 19th

GBP EUR Exchange Rate: The Week Ahead September 19th

The GBP EUR exchange rate was higher on the week after the UK economy showed employment was back at pre-virus levels. Inflation was also higher than expected with the highest monthly increase since records began in 1997. The big event this week is the Bank of England rate meeting on Thursday and the stakes are now raised with the latest data. The GBP to EUR was trading above the 1.1700 level but is vulnerable below the 1.1800 level after another failure to hold support above...
GBP EUR Gains on Goldman Sachs Rate Outlook

GBP EUR Gains on Goldman Sachs Rate Outlook

The GBP EUR exchange rate was 0.27% higher on Thursday after investment bank Goldman Sachs brought their interest rate hike expectations forward by a year. This week’s strong employment and inflation numbers have seen analysts reassess their dovish outlooks. The GBP to EUR trades at 1.1745 with Eurozone inflation ahead today. Goldman Sachs see earlier Bank of England hike Investment bank Goldman Sachs have boosted the pound versus the euro after they brought their anticipated Bank of England rate hike forward by more than a year, following...
Pound to Dollar Rate Consolidates Gains

GBP EUR Higher as UK Employment Hits Pre-Virus Level

The GBP EUR exchange rate was 0.30% higher on Tuesday after the British economy posted a strong employment report. The pound was strong after British employers added a record 241,000 staff last month, taking the total number of employees on company payrolls to just above the pre-pandemic level. The GBP to EUR trades at 1.1750 after a strong bounce from around 1.1620. UK employment figures beat market expectations British employers were shown to have added a record 241,000 staff last month, with the total number of employees...
GBP EUR Gains on Goldman Sachs Rate Outlook

GBP EUR Adds to Recent Gains Ahead of Employment Report

The GBP EUR exchange rate moved higher again on Monday by 0.25% as the pair capitalises on last week’s ECB-inspired rally. The UK will lead the week on economic data with the release of the latest employment figures into June. The market is looking for a strong 178k number after last month’s 95k and these reports are taking into account the economic reopening. The GBP to EUR trades at 1.1730 and will try to push ahead to the 1.1800 levels again if the data supports. UK...
GBP EUR Rallies After ECB Reduces Pandemic Support

GBP EUR Rallies After ECB Reduces Pandemic Support

The GBP EUR exchange rate was 0.42% higher on Thursday after the ECB said they would reduce their pandemic stimulus measures. As expected, the move will be gradual and that has seen the pound rebound to the 1.1700 level.  Markets will now wait for another German inflation figure today and a GDP update for the UK. The GBP to EUR found a floor near the 1.1620 level this week and will aim for the 1.18 highs again. European central bank easing pandemic support The European Central Bank...