{"id":110930,"date":"2021-10-21T07:16:05","date_gmt":"2021-10-21T06:16:05","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=110930"},"modified":"2021-10-21T07:16:46","modified_gmt":"2021-10-21T06:16:46","slug":"105945-gbp-eur-eurozone-consumer-confidence-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\/","title":{"rendered":"GBP\/EUR:  Eurozone Consumer Confidence In Focus"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) eases after CPI misses forecasts<\/strong><\/li>\n<li><strong>UK CPI slipped to 3.1%<\/strong><\/li>\n<li><strong>Euro (EUR) resilient after inflation hits 13 year high<\/strong><\/li>\n<li><strong>Eurozone consumer confidence next<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate edging a few ticks lower on Thursday. The pair settled +0.08% on Wednesday at \u20ac1.1863 after refreshing a 20-month high of \u20ac1.1874 earlier in the session. At 05:45 UTC, GBP\/EUR trades -0.07% at \u20ac1.1854.<\/p>\n<p>The pound rallied despite UK inflation data unexpectedly easing in September. The cost of living in the UK as measured by the consumer price index ticked lower to 3.1% year on year, down from 3.2% in August. Analysts had expected a 3.2% increase.<\/p>\n<p>However, the reprieve in inflation is not expected to last long with the BoE forecasting inflation to reach 4% by the end of the year. Many of the factors contributing to elevated inflation such as supply chain issues, rising energy costs and labour shortages are unlikely to be resolved soon.<\/p>\n<p>As a result, the slip in inflation is unlikely to push the central bank off its more hawkish path. The BoE is expected to raise interest rates as soon as this year.<\/p>\n<p>Rising covid cases could take the shine off the Pound. Pressure is mounting on Prime Minister Boris Jognson to take some action as new daily cases almost reach 50,000.<\/p>\n<p>The Euro was also well supported in the amid a rise in inflation. Consumer prices rose 3.4% in September, up from 3% in August. Core inflation which strips out more volatile items such as food a fuel rose to 1.9%, up from 1.6% in August. However, this is still below the ECB\u2019s target 2%.<\/p>\n<p>The ECB, unlike the BoE are in no apparent rush to start hiking interest rates. ECB speakers quickly talked down the prospect of a rate rise.<\/p>\n<p>Today, all eyes will remain on the Eurozone economic calendar with the release of Eurozone consumer confidence data for October. Morale is expected to have eased a touch lower to -5, from -4 as prices rise and supply chain disruptions hit.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) eases after CPI misses forecasts UK CPI slipped to 3.1% Euro (EUR) resilient after inflation hits 13 year high Eurozone consumer confidence next The Pound Euro (GBP\/EUR) exchange rate edging a few ticks lower on Thursday. The pair settled +0.08% on Wednesday at \u20ac1.1863 after refreshing a 20-month high of \u20ac1.1874 earlier in [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5348,"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-110930","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 Consumer Confidence 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\/105945-gbp-eur-eurozone-consumer-confidence-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\\\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Eurozone Consumer Confidence In Focus\",\"datePublished\":\"2021-10-21T06:16:05+00:00\",\"dateModified\":\"2021-10-21T06:16:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\\\/\"},\"wordCount\":335,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100898-gbp-eur-brexit-weighs-on-pound.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\\\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105945-gbp-eur-eurozone-consumer-confidence-in-focus\\\/\",\"name\":\"GBP\\\/EUR: Eurozone Consumer Confidence In Focus - 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