{"id":110348,"date":"2021-07-16T07:00:09","date_gmt":"2021-07-16T06:00:09","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110348"},"modified":"2021-07-16T06:31:42","modified_gmt":"2021-07-16T05:31:42","slug":"105791-gbp-eur-eurozone-inflation-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105791-gbp-eur-eurozone-inflation-in-focus\/","title":{"rendered":"GBP\/EUR: Eurozone Inflation In Focus"},"content":{"rendered":"<ul>\n<li><strong><span lang=\"EN-US\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) set for mild weekly gains\u00a0\u00a0<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\">UK economy added 365,000 job in June\u00a0<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) slips ahead of data\u00a0<\/span><\/strong><\/li>\n<li><strong><span lang=\"EN-US\">Eurozone CPI inflation numbers due\u00a0<\/span><\/strong><\/li>\n<\/ul>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The Pound Euro (GBP\/EUR) exchange rate is heading higher on Friday. The pair settled 0.02% lower on Thursday at \u20ac1.1703 after trading within a familiar range.\u00a0\u00a0At 05:45 UTC, GBP\/EUR trades +0.09% at \u20ac1.715. The pair is set to gain just 0.1% across the week.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The Pound found support from upbeat UK labour market data. The number of employees on payrolls surged in June by 365,000, the highest amount since the start of the covid pandemic. Average wages also surged to 7.3%, well up from the 5.7% previously reported. The elevated wage growth number comes against a backdrop of concerns over surging inflation.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Meanwhile the headline unemployment figure unexpectedly ticked higher to 4.8% in the three months to May, up from 4.7%. This level remains artificially low as the government\u2019s furlough scheme props up the labour market. The support is due to come to an end in Autumn which will almost certainly result in the unemployment rate ticking higher.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Following the data Bank of England official Michael Saunders said that the BoE could stop its bond-buying purchases sooner owing to the rising inflation. He as the second BoE official in two days to hint towards tapering bond purchases.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">There is no high impacting data due to be released today. Investors could continue watching covid numbers as new dsily covid cases in the UK almost reaches 50,000.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The Euro held its ground versus the Pound despite a quiet day on the economic calendar on Thursday. \u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">Things could still pick up heading towards the weekend as Eurozone inflation data is due to be released. Analysts expect inflation, as measured by the consumer price index to rise 0.3% month on month in June. On an annual basis, inflation is expected to rise 1.9%, just down slightly from May\u2019s 2%.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">The ECB just recently changed its price stability strategy lifting its inflation target to 2% whilst allowing an overshoot if necessary\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) set for mild weekly gains\u00a0\u00a0 UK economy added 365,000 job in June\u00a0 Euro (EUR) slips ahead of data\u00a0 Eurozone CPI inflation numbers due\u00a0 The Pound Euro (GBP\/EUR) exchange rate is heading higher on Friday. The pair settled 0.02% lower on Thursday at \u20ac1.1703 after trading within a familiar range.\u00a0\u00a0At 05:45 UTC, GBP\/EUR trades [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5541,"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":["post-110348","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Eurozone Inflation In Focus - 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\/105791-gbp-eur-eurozone-inflation-in-focus\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/105791-gbp-eur-eurozone-inflation-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105791-gbp-eur-eurozone-inflation-in-focus\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Eurozone Inflation In Focus\",\"datePublished\":\"2021-07-16T06:00:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105791-gbp-eur-eurozone-inflation-in-focus\\\/\"},\"wordCount\":335,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105791-gbp-eur-eurozone-inflation-in-focus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100610-gbp-eur-german-industrial-figures.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\\\/105791-gbp-eur-eurozone-inflation-in-focus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105791-gbp-eur-eurozone-inflation-in-focus\\\/\",\"name\":\"GBP\\\/EUR: Eurozone Inflation In Focus - 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