{"id":114516,"date":"2023-06-01T07:00:16","date_gmt":"2023-06-01T06:00:16","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114516"},"modified":"2023-06-02T07:14:17","modified_gmt":"2023-06-02T06:14:17","slug":"gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower\/","title":{"rendered":"GBP\/EUR: Will eurozone inflation data pull the euro lower?"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises despite wear business confidence<\/strong><\/li>\n<li><strong>UK manufacturing PMI data due<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls as inflation in Germany cools<\/strong><\/li>\n<li><strong>Eurozone inflation data is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising modestly, marking the fifth straight day of gains. The pair rose +0.60% in the previous session, settling on Wednesday at \u20ac1.1632 and trading in a range between \u20ac1.1562 &#8211; \u20ac1.1648. At 05:35 UTC, GBP\/EUR trades +0.05% at \u20ac1.1632.<\/p>\n<p>The euro fell in the previous session after inflation data from Germany and France cools by more than expected, raising bets that the ECB could adopt A less hawkish approach to monetary policy.<\/p>\n<p>German inflation cooled to 6.1% year on year in May, down from 7.3% in April and lower than the 6.5% forecast. Meanwhile, inflation in France cooled to 5.1%, down from 5.9% in April and again below the 5.5% forecast. On a monthly basis, both inflation in Germany and in France fell by 0.1%, defying expectations of a monthly rise.<\/p>\n<p>The data comes ahead of eurozone inflation figures which are due today and are expected to show fast inflation cooled to 6.3% year on year in May, down from 7%. However, core inflation is proving to be remarkably sticky. It is expected to cool to just 5.5% from 5.6%. Hotter-than-expected core inflation could fuel hawkish ECB bets.<\/p>\n<p>After 375 basis points of hikes so far, economists forecast two more 25 basis point rate hikes this year.<\/p>\n<p>The pound has managed to push higher despite business confidence dipping in May. The Lloyds Bank business barometer fell to 28% in May, down from 33% in April, marking its first decline since February.<\/p>\n<p>The UK economy has managed to avoid a technical recession, indicating a certain amount of resilience within the economy. However, with inflation still high at 8.7%, the BoE is widely expected to keep raising interest rates to a peak of 5% in the coming quarter. Hawkish BoE expectations could keep the pound supported.<\/p>\n<p>Looking ahead, UK manufacturing PMI data will be in focus. This is the second reading and is expected to confirm a deeper contraction in activity to 46.9 from 47.8.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises despite wear business confidence UK manufacturing PMI data due Euro (EUR) falls as inflation in Germany cools Eurozone inflation data is due The Pound Euro (GBP\/EUR) exchange rate is rising modestly, marking the fifth straight day of gains. The pair rose +0.60% in the previous session, settling on Wednesday at \u20ac1.1632 and [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5328,"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-114516","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: Will eurozone inflation data pull the euro lower? - 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-will-eurozone-inflation-data-pull-the-euro-lower\/\" \/>\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-will-eurozone-inflation-data-pull-the-euro-lower\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Will eurozone inflation data pull the euro lower?\",\"datePublished\":\"2023-06-01T06:00:16+00:00\",\"dateModified\":\"2023-06-02T06:14:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower\\\/\"},\"wordCount\":341,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower\\\/#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\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-will-eurozone-inflation-data-pull-the-euro-lower\\\/\",\"name\":\"GBP\\\/EUR: Will eurozone inflation data pull the euro lower? 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