{"id":111855,"date":"2022-03-08T07:00:35","date_gmt":"2022-03-08T07:00:35","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=111855"},"modified":"2022-03-09T05:50:29","modified_gmt":"2022-03-09T05:50:29","slug":"gbp-eur-7-pair-steady-ahead-of-eu-gdp-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\/","title":{"rendered":"GBP\/EUR: Pair Steady Ahead of Eurozone GDP Data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) drops versus EUR and USD<\/strong><\/li>\n<li><strong>Risk sentiment deteriorates further<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rises after hitting 5 year low<\/strong><\/li>\n<li><strong>German industrial production, Eurozone GDP data due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is holding steady after booking losses in the previous session. The pair settled down -0.22% at \u20ac1.2069 on Monday after a volatile start to the trading week, trading as high as \u20ac1.2191 as 5-year top before falling 100 points lower.\u00a0 At 05:45 UTC, GBP\/EUR trades +0.01% at \u20ac1.2070.<\/p>\n<p>The Euro staged a turnaround on Monday, picking up from session lows after German Chancellor Olaf Scholz said that Germany would not back a move to impose sanctions on Russian oil. News over the weekend that the US was keen to press ahead with sanctions on Russian energy has initially sent the euro into a tailspin amid fears of surging Inflation and stalling growth.<\/p>\n<p>Macro data was supportive of the Euro, German retail sales jumped 2% month on month in January as Omicron fears receded, and German factory orders also jumped 1.8% month on month beating forecasts of just 1% growth.<\/p>\n<p>The Eurozone investor sentiment highlighted the hit to morale this month as Russia invades Ukraine, dropping to -7 from 16.6 in February, to a 16-month low. Delving deeper into the data, Germany suffered the biggest hit to investors\u2019 confidence with the index dropping to -5.2 from 23.1 in February<\/p>\n<p>Looking ahead, Russia headlines will remain in focus, driving risk sentiment. German industrial production figures are also due to show a 0.5% increase in January on a monthly basis and Eurozone GDP, although this is the third estimate and is expected to confirm 0.3% growth quarter on quarter.<\/p>\n<p>The pound came under pressure versus both the Euro and the US dollar in the previous session as risk sentiment remained weak as investors digested events in Ukraine. Putin appears undeterred by the sanctions being imposed against Russia saying that the invasion will continue until Ukraine accepts his demands and halts resistance, pouring cold water on the prospect of a ceasefire.<\/p>\n<p>There is little in the way of UK economic data this week. The calendar is relatively quiet until GDP data on Friday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) drops versus EUR and USD Risk sentiment deteriorates further Euro (EUR) rises after hitting 5 year low German industrial production, Eurozone GDP data due The Pound Euro (GBP\/EUR) exchange rate is holding steady after booking losses in the previous session. The pair settled down -0.22% at \u20ac1.2069 on Monday after a volatile start [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5328,"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-111855","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: Pair Steady Ahead of Eurozone GDP Data - 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\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\/\" \/>\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\\\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pair Steady Ahead of Eurozone GDP Data\",\"datePublished\":\"2022-03-08T07:00:35+00:00\",\"dateModified\":\"2022-03-09T05:50:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\\\/\"},\"wordCount\":358,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100882-gbp-eur-pound-falls-brexit-news.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-7-pair-steady-ahead-of-eu-gdp-data\\\/\",\"name\":\"GBP\\\/EUR: Pair Steady Ahead of Eurozone GDP Data - 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