Pound Euro Gbpeur Exchange Rate
A sharper-than-expected contraction in the Spanish industrial production data was not enough to keep the Pound to Euro (GBP/EUR) Exchange Rate from shedding some ground. Fx Signals by FxPremiere.com
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Negative Eurozone Industrial Production Forecast to Limit Euro Appeal
Even so, if the Eurozone industrial production data also proves underwhelming on Wednesday this could see EUR exchange rates come under a degree of pressure.
Pound Euro GBPEUR Exchange Rate
Unless production can demonstrate greater resilience than forecast on the month the Euro could falter.
Pound to Euro GBPEUR Rises as UK EU
Thanks to the negative correlation of the Euro to US Dollar (EUR/USD) exchange rate any bout of US Dollar bullishness could drag on the single currency, limiting its ability to push higher against the Pound.
GBP/EUR Exchange Rate Vulnerable to Weaker UK Gross Domestic Product
With fresh UK data releases thin on the ground in the majority of the week the GBP/EUR exchange rate may struggle to find any particular footing in the near term.
FX Signals – ECB Inflation Risks Mount
Fresh volatility could be in store for the Pound on Friday, however, with the release of November’s UK gross domestic product figures.
Forex – Dollar Dips Amid Negative Rates
As long as the UK economy appears on course to suffer another major slowdown the GBP/EUR exchange rate could find itself biased to the downside.
On the other hand, if the growth data shows a smaller decline than forecast this could help to put a temporary floor under the Pound.
Pound Euro GBPEUR Exchange Rate
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Pound Euro GBPEUR Exchange Rate
FxPremiere.com – The dollar pushed higher Monday, rebounding from recent lows on the back of rising Treasury yields.
At 4 AM ET (0800 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.3% at 90.335, and is now over 1% higher than the almost three-year low it hit last week.
USD/JPY was up 0.2% at 104.16, EUR/USD fell 0.3% to 1.2184, after climbing as high as 1.2349 last week. GBP/USD dropped 0.6% to 1.3487, while the risk-sensitive AUD/USD was down 0.8% at 0.7701.
After a prolonged period of dollar weakness, investors are now betting on economic recovery spurring an uptick in inflation and an end to extreme accommodation by the Federal Reserve toward the end of the year. President-elect Joe Biden has promised “trillions” in extra coronavirus-relief spending, much of which will be financed by additional borrowing.
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Elsewhere, USD/CNY pair was up 0.1% to 6.4786, after China’s producer price index contracted 0.4% year-on-year in December, falling at their slowest pace since February, suggesting the country’s manufacturing sector continues its recovery.
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