GBP EUR Surrenders 1.2000 Ahead of PMI Data

The GBP EUR exchange rate closed the week around the 1.1950 level after surrendering the 1.2000 resistance. The pound sterling versus the euro now faces PMI data on Monday which is a closely watched indicator of the economy’s performance ahead of GDP data. Markets will soon start looking towards the next meetings of the Bank of England and the European Central Bank. The GBP to EUR has initial support around the 1.1920 level, but could head as low as 1.1700 if bearishness sets in. Boris Johnson...

GBP USD Exchange Rate: The Week Ahead January 24th

The pound broadly weakened against the dollar throughout last week, starting a fraction below the 1.37 resistance level on Monday and ending up in the 1.35 mid-range – its lowest level in more than a week. Data on Wednesday showing consumer prices jumped to their highest since 1992 turned up the pressure on the Bank of England (BoE) to hike interest rates next month to curb red-hot inflation. However, soft UK retail sales figures for the Christmas shopping period alongside US Treasury yield inspired dollar strength...
GBP AUD Weak as RBA Governor Signals 50bps Hike 

AUD GBP Takes Aim for Another Move Lower

The AUDGBP exchange rate was lower by -0.16% on Wednesday with the pair potentially looking to test the week’s low. A bounce on Tuesday kept the wolves from the door, but a bearish close on Wednesday could see another push towards the 0.5275 lows. The AUD v GBP was trading at 0.5340 with both economies still resisting restrictions. Australian PM to meet with cabinet amidst higher cases Australia saw another rise in virus cases on Wednesday with hospitalizations and long queues at testing centres as it continued...

AUD GBP Steady Ahead of UK Consumer Data

The AUD GBP exchange rate was slightly higher on Monday, despite negative developments for the pound sterling. The threat of a two-week ‘circuit breaker’ lockdown looms, while there is uncertainty for the economy, and its Prime Minister, after the departure of the Brexit negotiator. The UK faces consumer data on Wednesday, but analysts will look ahead to the next damage caused by lockdowns and restrictions to the all-important services sector. The AUD GBP exchange rate was trading at 0.5385 with Australia also seeing high virus...

EUR GBP Surges Despite Potential of Restrictions

The EUR GBP exchange rate was higher by 0.70% on Monday to buck a seven-day losing streak. Traders are punishing the pound sterling as the government moves towards new restrictions, despite the fact that European nations look set to follow. The German economy will see consumer confidence released today. The EUR v GBP was trading at 0.8545 with resistance above at 0.8600. Consumer confidence leads the EUR v GBP data but will lag Today sees German consumer confidence for the German economy, with the UK figure released...
GBP AUD Weak as RBA Governor Signals 50bps Hike 

AUD GBP Will React to Case Surge in NSW, UK

The AUD GBP exchange rate was lower into the weekend after the Bank of England surprised markets with a rate hike. However, that could change on Monday as the UK government is rumoured to return to lockdown restrictions. New South Wales also returned to record cases numbers after the reopening of state borders, but the Prime Minister has reiterated a goal to live with the virus, despite the UK trying and failing. The AUD GBP exchange rate was trading at 0.5380 at the weekend close...

EUR GBP Heads Lower After BoE Rate Hike

The EUR GBP exchange rate was lower ahead of the Bank of England’s key interest rate meeting. Markets are expecting a 0.15% rate hike as a minimum and there is sure to be volatility ahead. Elsewhere, UK services PMI and house prices showed an improvement. The EUR v GBP is trading at 0.8480 and ECB Chief Christine Lagarde also took some wind out of the euro’s sail with dovish rate hike comments. European central bank ‘very unlikely’ to raise rates in 2022 The European Central Bank is...
GBP EUR Exchange Rate: The Week Ahead June 12th

EUR GBP Sinks After Central Bank Rate Hike

The EUR GBP exchange rate was 0.10% lower on Thursday as traders saw the Bank of England raising interest rates to 0.25%. The bank said they had to take action due to soaring inflation and price pressures. The ECB also had their interest rate meeting but decided to stay on hold at 0%. The EUR v GBP was trading at 0.8510 after touching an intraday low at 0.8460. Bank of England raises interest rates to 0.25% The Bank of England has lifted its interest rate to 0.25%...
GBP EUR Exchange Rate: The Week Ahead June 12th

EUR GBP Rises Ahead of Central Bank Double Header

The EUR GBP exchange rate was 0.20% higher on Wednesday as traders await a rare double header of the Bank of England and European Central Bank. Both central banks have interest rate meetings on the same day and that will create volatility for the EUR v GBP. The ECB and BoE will do nothing on rates with Omicron as the excuse. The EUR v GBP was trading at 0.8525 with the 0.8500 level being key support. UK back in virus variant fear mode The UK is now...

AUD GBP Dips as UK Awaits GDP Numbers

The AUD GBP exchange rate was lower by -0.27% on Thursday as the UK economy releases the latest GDP numbers. A 1% increase in the economy is expected from last month’s 1.3% but any positives could be hurt by the move to Plan B restrictions. The Bank of England is expected to skip a rate rise in 2021 and could wait for the first quarter of 2022. The AUD GBP exchange rate was trading at 0.5420 ahead of the economic data. Evergrande woes seen weighing on...