{"id":112563,"date":"2022-06-14T07:00:00","date_gmt":"2022-06-14T06:00:00","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112563"},"modified":"2022-06-14T05:49:56","modified_gmt":"2022-06-14T04:49:56","slug":"107126-gbp-eur-uk-jobs-data-german-zew-economic-sentiment-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107126-gbp-eur-uk-jobs-data-german-zew-economic-sentiment-in-focus\/","title":{"rendered":"GBP\/EUR: UK Jobs Data &#038; German ZEW Economic Sentiment In Focus"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises ahead of jobs data<\/strong><\/li>\n<li><strong>UK unexpectedly fell -0.3% MoM in April<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rose yesterday after hawkish ECB comments<\/strong><\/li>\n<li><strong>German ZEW economic sentiment 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 rising after steep losses in the previous session. The pair fell -0.45% lower yesterday, settling on Monday at \u20ac1.1651, towards the low of the day after trading in a range between \u20ac1.1633 &#8211; \u20ac1.1724. At 05:45 UTC, GBP\/EUR trades +0.28% at \u20ac1.1683<\/p>\n<p>The pound fell after data raised fears over the health of the UK economy. UK GDP data revealed that the UK economy contracted in April, for a second consecutive month. UK GDP fell -0.3% on a monthly basis in April after falling -0.1% in March.<\/p>\n<p>The fall in GDP was attributed to a large decrease in human health and social work owing to a significant decrease in NHS Test and Trace activity. Meanwhile, supply chain issues hit factories.<\/p>\n<p>The slowdown in GDP comes just days before the Bank of England interest rate decision and has as good as removed any possibility of a 50-basis point rate hike. The central bank is finding itself in a tough position where it could well tip the UK into recession as policymakers attempt to tame inflation.<\/p>\n<p>Today the focus remains on the UK economic calendar with the release of jobs data. Expectations are for the unemployment rate to tick higher to 3.8% in the three months to April, up from 3.7%. Average earnings excluding bonuses are expected to tick lower to 4%, from 4.2%, intensifying the squeeze on households as inflation ticks higher to over 9%.<\/p>\n<p>The euro rose against the pound as investors continued digesting the outcome of last week\u2019s European Central Bank meeting and fresh comments from ECB\u2019s Kazimir.<\/p>\n<p>The Slovakian central bank head Peter Kazimir said that there was a clear need for a 50-basis point rate hike in September in order to get interest rates into positive territory this Autumn.<\/p>\n<p>Today German inflation data is in focus. Expectations are for consumer prices to confirm the record 8.7%, up from 7.8% in April. German ZEW economic sentiment is expected to show a slight improvement in June to -27.5, up from 34.3.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises ahead of jobs data UK unexpectedly fell -0.3% MoM in April Euro (EUR) rose yesterday after hawkish ECB comments German ZEW economic sentiment data due The Pound Euro (GBP\/EUR) exchange rate is rising after steep losses in the previous session. The pair fell -0.45% lower yesterday, settling on Monday at \u20ac1.1651, towards [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-112563","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: UK Jobs Data &amp; German ZEW Economic Sentiment 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\/107126-gbp-eur-uk-jobs-data-german-zew-economic-sentiment-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\\\/107126-gbp-eur-uk-jobs-data-german-zew-economic-sentiment-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107126-gbp-eur-uk-jobs-data-german-zew-economic-sentiment-in-focus\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: UK Jobs Data &#038; 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