{"id":114432,"date":"2023-05-17T07:00:56","date_gmt":"2023-05-17T06:00:56","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114432"},"modified":"2023-05-21T19:36:26","modified_gmt":"2023-05-21T18:36:26","slug":"107567-gbp-eur-eurozone-inflation-data-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107567-gbp-eur-eurozone-inflation-data-in-focus\/","title":{"rendered":"GBP\/EUR: Eurozone inflation data in focus"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">Pound<\/a> (GBP) falls after mixed jobs data<\/strong><\/li>\n<li><strong>UK unemployment unexpectedly rose to 3.9%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rose after Q1 GDP rose 0.1%<\/strong><\/li>\n<li><strong>Eurozone CPI data is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is falling for a second straight day. The pair fell -0.23% yesterday, settling on Tuesday at \u20ac1.1491 and trading in a range between \u20ac1.1468 &#8211; \u20ac1.1524. At 05:35 UTC, GBP\/EUR trades -0.07% at \u20ac1.1486.<\/p>\n<p>The pound fell in the previous session after a mixed bag of UK labour market data. On the one hand, signs of cracks in the jobs market appeared, with unemployment unexpectedly ticking higher to 3.9% up from 3.8%. Vacancies slipped 4 the tenth straight month, and inactivity was also lower as more people returned to the labour force.<\/p>\n<p>However, Wages also rose. Average earnings ticked up to 6.7% up from 6.6% but below the 6.8% forecast. The Bank of England will be watching this figure closely as it decides whether or not to raise interest rates in the June meeting.<\/p>\n<p>There is no high-impacting UK economic data due today; instead, investors will be watching a speech by BoE Governor Andrew Bailey for his thoughts on whether the central bank is likely to hike rates again.<\/p>\n<p>The euro pushed higher yesterday after GDP data confirmed the preliminary reading of nought .1% quarter on quarter in the first three months of the year. The data came after the EU Commission upwardly revised GDP growth for the eurozone region for 2023 two 1% up from nought .8% previously.<\/p>\n<p>However, it wasn&#8217;t all good news. The German said EW economic sentiment index tumbled by more than expected to -10.7 in May from 4.1 in April. This was the first time that the index dropped into negative territory since December 2021. \u00a0The deep drop in investor sentiment raises the prospect of a recession in the eurozone\u2019s largest economy.<\/p>\n<p>Today attention remains on the economic calendar with the release of Eurozone inflation data, which is expected to confirm the preliminary reading of CPI rising to 7% annually, from 6.9%. Core inflation is expected to cool to 5.6% annually from 5.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) falls after mixed jobs data UK unemployment unexpectedly rose to 3.9% Euro (EUR) rose after Q1 GDP rose 0.1% Eurozone CPI data is due The Pound Euro (GBP\/EUR) exchange rate is falling for a second straight day. The pair fell -0.23% yesterday, settling on Tuesday at \u20ac1.1491 and trading in a range between [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5643,"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-114432","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 data 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\/107567-gbp-eur-eurozone-inflation-data-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\\\/107567-gbp-eur-eurozone-inflation-data-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107567-gbp-eur-eurozone-inflation-data-in-focus\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Eurozone inflation data in focus\",\"datePublished\":\"2023-05-17T06:00:56+00:00\",\"dateModified\":\"2023-05-21T18:36:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107567-gbp-eur-eurozone-inflation-data-in-focus\\\/\"},\"wordCount\":337,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107567-gbp-eur-eurozone-inflation-data-in-focus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100662-gbp-eur-pound-declines-light-data.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107567-gbp-eur-eurozone-inflation-data-in-focus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107567-gbp-eur-eurozone-inflation-data-in-focus\\\/\",\"name\":\"GBP\\\/EUR: Eurozone inflation data in focus - 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