{"id":114488,"date":"2023-05-26T09:47:27","date_gmt":"2023-05-26T08:47:27","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114488"},"modified":"2023-05-30T11:01:42","modified_gmt":"2023-05-30T10:01:42","slug":"107578-gbp-eur-pound-rises-after-stronger-retail-sales","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\/","title":{"rendered":"GBP\/EUR: Pound rises after stronger retail sales"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises after retail sales rise 0.5% MoM<\/strong><\/li>\n<li><strong>Ofgem reduce household energy bill cap<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls as German enters recession<\/strong><\/li>\n<li><strong>ECB\u2019s Philip Lane to speak<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising after two days of losses. The pair fell -0.08% yesterday, settling on Thursday at \u20ac1.1490 and trading in a range between \u20ac1.1485 &#8211; \u20ac1.1542. At 09:35 UTC, GBP\/EUR trades +0.14% at \u20ac1.1507.<\/p>\n<p>The pound is pushing higher on Friday after UK retail sales rose by more than expected, raising optimism that the UK economy could finally be improving. UK retail 0.5% month on month in April. This was up from a downwardly revised 1.2% decline in March. However, it was also no .3% that analysts had penciled in.<\/p>\n<p>Apart from a blip in March, Retail sales have been trending higher across the year, supported by a resilient UK labour market, improving consumer confidence and cooling inflation.<\/p>\n<p>UK inflation cooled to 8.7% in April, still four times the Bank of England\u2019s target level. The UK central bank is still expected to raise interest rates again in June, adding more pressure to household incomes. However, it&#8217;s also worth noting that Ofgem has lowered the energy bill camp from \u00a32500 to \u00a32074, which will mean that households should have more disposable income.<\/p>\n<p>Looking ahead the UK economic calendar is rather quiet, which will leave sentiment as a driving force for sterling.<\/p>\n<p>The euro trades under pressure the data showed that the eurozone &#8216;s largest economy has fallen into a recession.<\/p>\n<p>German GDP was downwardly revised to -0.3% quarter on quarter in the first three months of the year, after the preliminary reading showed 0%. This comes off to the economy contracted 0.5% in in the final three months of 2022. \u00a0Consecutive quarters of negative growth is a technical recession.<\/p>\n<p>There is no high-impacting eurozone economic data today. \u00a0Instead, investors will be watching a speech from ECB chief economist Philip Lane. Any comments regarding inflation or monetary policy could influence the euro.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises after retail sales rise 0.5% MoM Ofgem reduce household energy bill cap Euro (EUR) falls as German enters recession ECB\u2019s Philip Lane to speak The Pound Euro (GBP\/EUR) exchange rate is rising after two days of losses. The pair fell -0.08% yesterday, settling on Thursday at \u20ac1.1490 and trading in a range [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4900,"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-114488","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: Pound rises after stronger retail sales - 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\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\/\" \/>\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\\\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound rises after stronger retail sales\",\"datePublished\":\"2023-05-26T08:47:27+00:00\",\"dateModified\":\"2023-05-30T10:01:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\\\/\"},\"wordCount\":329,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100654-gbp-usd-brexit-retail-sales.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\\\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107578-gbp-eur-pound-rises-after-stronger-retail-sales\\\/\",\"name\":\"GBP\\\/EUR: Pound rises after stronger retail sales - 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