The pound euro (GBP/EUR) exchange rate is pushing higher, recouping yesterday’s losses.
The pound looks to UK jobs data which is expected to show unemployment held steady at historic lows of 3.5%, even as the economy shrank -0.2%. Average wage growth is expected to rise to 6%, which remains well below double digit inflation, fueling the cost-of-living crisis.
The data comes ahead of the Chancellor’s Budget on Thursday.
The euro is falling ahead of a slew of data. The Eurozone GDP is expected to confirm the economy avoided recession in Q3.
Meanwhile German ZEW economic sentiment is forecast to improve in November, possibly owing to support from the government towards energy bills.