GBP EUR Steady as Markets Await German Data

GBP EUR Exchange Rate: Week in Review September 18th

The GBP to EUR exchange was higher again this week after the UK showed a strong employment report early in the week. That was followed by inflation that topped analysts’ expectations. Goldman Sachs were the first investment bank to bring forward their Bank of England rate hike projection on the latest data. The GBP v EUR was trying to hold gains above the 1.1700 level despite the latest data. Goldman Sachs sees Bank of England hike in May 2022 The investment bank Goldman Sachs gave the pound...
GBP EUR Starts the Week on a Positive Note

GBP EUR Starts the Week on a Positive Note

The GBP EUR exchange rate was higher on Monday to buck two previous days of losses. The pair rallied 0.39% from the 1.1650 level and that will be near-term support. The day was quiet on the data front and the German economy will dominate the economic releases this week starting today with GDP for Q2. The GBP to EUR trades at 1.1685 after tumbling through the 1.17 level last week. German economy set for GDP data release Germany will see the release of a final reading for...
GBP EUR Pauses with Hopes for Peak in Omicron

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...
GBP EUR Higher as German Inflation Hits 5%

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...
Pound to Dollar Rate Buoyed by BoE Comments

Pound to Dollar Rate Buoyed by BoE Comments

The pound jumped to a two-week high against the dollar on Monday morning. Traders have been looking for signs that the Bank of England (BoE) will be prompted to raise interest rates due to inflationary pressures. Their heads were turned over the weekend when Michael Saunders – an external member of the central bank's Monetary Policy Committee – said he expects the cost of borrowing to rise “significantly earlier” than currently forecast. However, he did not signal that a rate hike – which would...
GBP EUR Exchange Rate: The Week Ahead October 10th

GBP/EUR settle after volatility caused by political uncertainty in the UK

GBP/EUR rates have settled around 1.13, after some key developments in the UK Government in recent days. The resignations of chief Brexit negotiator David Davis late on Sunday evening and then the former Foreign Secretary Boris Johnson on Monday, have been well publicised. Whilst Davis’s announcement did little to shake Sterling’s foundations, Boris Johnson decision to step down caused the markets to panic, and a quick-fire sell-off of Sterling positions followed. This helped boost EUR's value, although in truth it struggled to make any significant impact...
GBP EUR Lower After Rishi Sunak Autumn Budget

Pound to Dollar Rate Mounts Mini Recovery

The pound climbed to within touching distance of the 1.35 level against the dollar on Thursday after receiving much-needed support from better-than-expected growth data. Although its rise was nominal compared to its descent earlier in the week when it slumped to a multi-month low (1.342). The UK economy grew by 5.5% in the second quarter of 2021, exceeding forecasts of 4.8% growth, Office for National Statistics figures showed. UK Gross Domestic Product (GDP) is now just 3.3% off pre-pandemic levels. UK house prices increased by 0.1%...
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...
GBP NZD Forecast: UK Business Confidence Hits Sterling Exchange Rates

Will positive data out of New Zealand boost the chances of a RBNZ rate...

It's been quite a busy week already for the New Zealand Dollar after a number of key releases are out this week. On Monday we found out that the number of new construction projects declined during June from the previous month which caused the Kiwi to sell-off somewhat. Tonight will perhaps see the biggest price fluctuations as the Unemployment Rate and Employment Changes will be released and this could determine the monetary policy adopted by the Reserve Bank of New Zealand moving forward. Some economists are...
Pound to Dollar Rate Drops to One-month Low

Pound to Dollar Rate Drops to One-month Low

The pound skidded to a one-month low against the dollar on Monday after a global sell-off was triggered by China’s struggling Evergrande – the nation's second-largest property developer – denting risk-related currencies. This was compounded by uncertainties surrounding the Bank of England’s (BoE) monetary policy and surging gas prices. The UK government could offer state-backed loans to energy firms after wholesale gas prices skyrocketed, prompting large suppliers to request support to swallow the cost of taking on customers from companies that have gone under. Investors...