GBP/EUR: Euro In Focus Ahead Of Barrage Of Data Releases

The Pound Euro (GBP/EUR) exchange rate is edging lower on Friday and is heading for a weekly loss, its second straight weekly decline.

The Pound picked up in the previous session after falling to a two-month low. However, concerns over supply chain disruptions, labour shortages and empty petrol pumps keep sterling out of favour today.

UK manufacturing PMI data is in focus.

The Euro is on the rise with German retail sales data due. Analysts expect a rebound in sales of 1.5% MoM in August after falling -5.1% in July.

Eurozone inflation is expected to reveal a rise to 3.3% YoY, up from 3%.