{"id":114860,"date":"2023-08-16T07:12:41","date_gmt":"2023-08-16T06:12:41","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114860"},"modified":"2023-08-16T12:34:56","modified_gmt":"2023-08-16T11:34:56","slug":"107668-gbp-eur-pound-awaits-uk-inflation-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107668-gbp-eur-pound-awaits-uk-inflation-data\/","title":{"rendered":"GBP\/EUR: Pound awaits UK inflation data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises after record wage growth<\/strong><\/li>\n<li><strong>UK CPI inflation data is due<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls after mixed German ZEW data<\/strong><\/li>\n<li><strong>Eurozone GDP data is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is holding steady after three straight days of gains. The pair rose +0.2% in the previous session, settling on Tuesday at \u20ac1.1648 and trading in a range between \u20ac1.1613 &#8211; \u20ac1.1665. At 06:35 UTC, GBP\/EUR trades +0.00% at \u20ac1.1648.<\/p>\n<p>The pound is rising as attention turns to UK inflation data later today, which analysts expect to show a cooling in consumer prices to 6.8% year on year, down over 1% from 7.9% in June. However, core inflation, which discounts more volatile items such as food and fuel, is only expected to cool modestly to 6.8% year on year from 6.9%.<\/p>\n<p>The data comes after UK labour market data yesterday showed that wage growth hit a record high in the three months to June, rising 8.2%, well above the 7.4% forecast. Strong wage growth keeps pressure on the Bank of England to keep hiking interest rates even after 14 back-to-back rate hikes. Strong wage growth and hot inflation keep pressure on the central bank to keep hiking.<\/p>\n<p>However, unemployment did unexpectedly tick higher to 4.2%, up from 4%, showing that some signs of weakness are starting to seep into the labour market.<\/p>\n<p>The euro came under pressure in the previous session despite German ZEW economic sentiment improving in August. The economic sentiment index rose to -12.3, up from -14.7 \u00a0in July and ahead of the -14.7 forecast.<\/p>\n<p>However, the ZEW current conditions index dived to -71.3, its lowest since October 2022 and below the -63 forecast. However, the eurozone ZEW economic sentiment and current situation index turned more optimistic.<\/p>\n<p>Looking ahead attention will be on the eurozone economic growth data. Analysts are expecting the GDP Q2 second reading to confirm 0.3% quarter on quarter, up from 0%\u00a0 in Q1. Weaker-than-expected GDP data could fuel bets that the ECB are close to concluding its rate hiking cycle, pulling the EUR lower.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises after record wage growth UK CPI inflation data is due Euro (EUR) falls after mixed German ZEW data Eurozone GDP data is due The Pound Euro (GBP\/EUR) exchange rate is holding steady after three straight days of gains. The pair rose +0.2% in the previous session, settling on Tuesday at \u20ac1.1648 and [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4916,"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-114860","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 awaits UK inflation 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\/107668-gbp-eur-pound-awaits-uk-inflation-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\\\/107668-gbp-eur-pound-awaits-uk-inflation-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107668-gbp-eur-pound-awaits-uk-inflation-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound awaits UK inflation data\",\"datePublished\":\"2023-08-16T06:12:41+00:00\",\"dateModified\":\"2023-08-16T11:34:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107668-gbp-eur-pound-awaits-uk-inflation-data\\\/\"},\"wordCount\":330,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107668-gbp-eur-pound-awaits-uk-inflation-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-eur-gross-domestic-product.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\\\/107668-gbp-eur-pound-awaits-uk-inflation-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107668-gbp-eur-pound-awaits-uk-inflation-data\\\/\",\"name\":\"GBP\\\/EUR: Pound awaits UK inflation data - 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