{"id":110015,"date":"2021-06-02T07:26:46","date_gmt":"2021-06-02T06:26:46","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110015"},"modified":"2021-06-02T07:28:03","modified_gmt":"2021-06-02T06:28:03","slug":"105698-gbp-eur-gives-back-last-week-gains-and-turns-negative","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\/","title":{"rendered":"GBP\/EUR: Gives Back Last Week Gains and Turns Negative"},"content":{"rendered":"<ul>\n<li>Pound Euro gives back early gains<\/li>\n<li>Euro strengthens on strong manufacturing data<\/li>\n<li>UK manufacturing growing at its fastest rate since 1992<\/li>\n<li>Traders eyeing ECB&#8217;s President Lagarde speech<\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate has traded lower for the third consecutive day. The GBP to EUR pair was seen trading on Tuesday within a trading range of 1.1648 and 1.1566. At 07:23 UTC, GBP\/EUR trades up +0.01% at 1.1590.<\/p>\n<p>The Euro has a strong start this week with the single currency being propped up by a boost in the manufacturing activity in both the EU and particularly in Germany. Germany\u2019s manufacturing sector grew by 64.4, while business activity in the EU\u2019s manufacturing activity grew by 63.1.<\/p>\n<p>Elsewhere, the upbeat UK manufacturing sector was boosted by an easing of lockdown restrictions. The Markit Manufacturing PMI in May rose to an all-time high of 65.6, up from 60.9 previous reading. However, the survey also revealed that many suppliers are struggling to keep up with demand.<\/p>\n<p>Amid these factors, market participants booked profits prompting fresh selling interest in the British Pound.<\/p>\n<h2>Key Economic Data Ahead<\/h2>\n<p>The main key risk events in the day ahead are the retail sales data in Germany and ECB&#8217;s President Lagarde speech.<\/p>\n<p>Based on the market consensus, retail sales in Germany are expected to slow down after previously it posted its biggest year-on-year increase since the start of the coronavirus pandemic.<\/p>\n<p>Retail Sales are expected to slow down to 10.1% compared to 11% previous reading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound Euro gives back early gains Euro strengthens on strong manufacturing data UK manufacturing growing at its fastest rate since 1992 Traders eyeing ECB&#8217;s President Lagarde speech The Pound Euro (GBP\/EUR) exchange rate has traded lower for the third consecutive day. The GBP to EUR pair was seen trading on Tuesday within a trading range [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5382,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":{"0":"post-110015","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-gbp","11":"tag-gbp-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Gives Back Last Week Gains and Turns Negative - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"GBP\\\/EUR: Gives Back Last Week Gains and Turns Negative\",\"datePublished\":\"2021-06-02T06:26:46+00:00\",\"dateModified\":\"2021-06-02T06:28:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\\\/\"},\"wordCount\":247,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100915-gbp-usd-brexit-voted-down.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105698-gbp-eur-gives-back-last-week-gains-and-turns-negative\\\/\",\"name\":\"GBP\\\/EUR: Gives Back Last Week Gains and Turns Negative - 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