GBP EUR Back Above 1.1800 Level on German Woes

GBP EUR Back Above 1.1800 Level on German Woes

The GBP EUR exchange rate was 0.34% higher on Tuesday after German data pointed to a potential recession. An IFO survey mirrored weak PMI numbers, with Russian gas set to be the defining moment for the European economy. The pound sterling was higher for a third-straight day. Rishi Sunak and Liz Truss continued their leadership battle with a televised debate.  The GBP to EUR trades at 1.1825 ahead of German consumer confidence on Wednesday.  Business climate struggles in Germany highlight recession risk The German IFO business climate...
GBP EUR Supported by Lagging ECB Rates 

GBP EUR Supported by Lagging ECB Rates 

The GBPEUR exchange rate gained support after last week’s ECB rate hike meeting saw a 50bps hike in interest rates. Despite making a move to kick-start its ‘normalisation’ of monetary policy, the ECB still lags behind other central banks in its actions to curb inflation. The EU is in talks to boost gas supplies from Nigeria as it looks for alternatives to Russian supply.  The GBP to EUR opened the week at 1.1750 and traded at 0.30% higher to 1.1790 on Monday.  EU in talks with Nigeria...
GBP EUR Advances Despite Better German Trade 

GBP EUR Looks to Gain from ECB Disappointment 

After the latest European Central Bank meeting disappointed, the GBP EUR exchange rate will look for further gains this week. The bank hiked interest rates by 50 basis points, but there was pushback on its new bailout tool. The Italian government was also on the verge of collapse last week, adding some weight to the euro.   The GBP to EUR opened the week at 1.1750 as it moves to recover the 1.1900 level that provided resistance recently.  Italian government collapses, opening the door to Meloni The Italian...
GBP EUR Exchange Rate: The Week Ahead July 24th

GBP EUR Exchange Rate: The Week Ahead July 24th

The GBP EUR exchange rate was lower after employment figures showed real wages fell at their fastest pace since records began in 2001. There was also a higher inflation print at 9.4%, which added to the recession fears for the UK. The euro rallied from the return of Russian gas from the Nord Stream pipeline. The European Central Bank were also in focus with a rate hike to end its negative rate cycle.   The GBP to EUR fell below the 1.1800 level the week after...
GBP USD Exchange Rate Nudges Higher on Rate Hike Expectations 

GBP USD Slips as Data Highlights Economic Slowdown

A choppy week for GBP USD concluded with more peaks and troughs for the pair. The pound fell against the dollar on Friday morning after new data stoked fears about a slowdown in the UK economy. According to an industry survey, Britain’s businesses recorded their slowest growth in 17 months, and inflation pressures eased. This could reduce pressure on the Bank of England to vote through a large interest rate hike in August to tackle four-decade high inflation. The UK composite purchasing mangers' index (PMI) dropped...
GBP EUR Exchange Rate: Weekly Review July 23rd 

GBP EUR Exchange Rate: Weekly Review July 23rd 

The GBP EUR exchange rate lowered ahead of the European Central Bank meeting this week after employment and inflation figures for the UK. The UK employment report was robust with more jobs created than expected. Inflation was higher for the ninth-consecutive month due to energy and food prices. The European Central Bank hiked rates on Thursday by 50 bps. The GBP v EUR dipped to 1.1730 ahead of the ECB meeting. UK jobs market improves, but real wages are a headwind The UK economy saw better-than-expected employment figures....
GBP EUR Pares Losses after ECB Rate Hike Move 

GBP EUR Pares Losses after ECB Rate Hike Move 

The GBP EUR exchange rate was 0.11% higher after paring earlier losses at the ECB policy meeting. Traders pushed the euro higher on a 50-basis point rate hike but reacted badly to the new bailout tool after pushback from Spain. In the UK, Rishi Sunak battles with Liz Truss for the Conservative leadership.  The GBP to EUR trades at 1.1740 after an earlier test of the 1.650 level after the initial ECB comments.  European central bank hikes rates for first time in 11 years The European Central...
 GBP EUR Higher After Inflation Hits Another High 

 GBP EUR Higher After Inflation Hits Another High 

The pound sterling stabilised against the euro on the news as traders wait for Thursday's European Central Bank rate decision. The GBP EUR exchange rate was higher by 0.08% after the ninth-consecutive gain in inflation. The euro rallied hopes of a gas pipeline reopening from Russia.  The GBP to EUR traded at 1.1740 after the latest data and could target the 1.1700 level with the ECB ahead.  Euro gains on Gazprom pipeline reopening hopes The price of the euro was boosted as hopes increased the Nord Stream...
GBP AUD Awaits Australian Manufacturing Data 

GBP EUR Lower Despite Stronger UK Employment Data

The GBP EUR exchange rate was -0.41% lower on Tuesday despite more robust than expected numbers for the British jobs market. The pressure on the sterling came from the fact that wages tumbled at their fastest rate on record. In Europe, inflation came in as expected, but the Russian gas crisis still looms with Gazprom already cutting off a key customer.  After the recent rally fizzled out, the GBP to EUR hovered around 1.1725  UK pay in freefall as inflation bites into real earnings Better-than-expected employment figures...
GBP EUR Rallies as Heatwave adds Pressure to EU Gas Crisis

GBP EUR Rallies as Heatwave adds Pressure to EU Gas Crisis

The GBP EUR exchange rate was 0.52% higher on Monday as the pair got off to a positive start. The heatwave in Europe adds extra pressure to the looming gas crisis. Another candidate will be eliminated from the Tory election race today.  The GBP to EUR opens the week trading above the 1.1800 level again. It will have a headwind at 1.1900 again.  Gas crisis looms with historic heatwave in Europe Europe faces a potential gas crisis this winter with mounting pressure from the heatwave.  Energy demand surges...