{"id":114924,"date":"2023-08-25T09:25:18","date_gmt":"2023-08-25T08:25:18","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114924"},"modified":"2023-08-25T09:36:56","modified_gmt":"2023-08-25T08:36:56","slug":"106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\/","title":{"rendered":"GBP\/EUR: Euro falls ahead of ECB Lagarde\u2019s speech"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises as consumer confidence improves<\/strong><\/li>\n<li><strong>Recession fears limit GBP upside<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls as German economy stagnates<\/strong><\/li>\n<li><strong>Christine Lagarde to speak later today<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising, snapping a two-day losing run. The pair fell -0.54% in the previous session, settling on Thursday at \u20ac1.1652 and trading in a range between \u20ac1.1652 &#8211; \u20ac1.1723. At 08:35 UTC, GBP\/EUR trades +0.15% at \u20ac1.1675.<\/p>\n<p>The pound is pushing higher after UK consumer confidence unexpectedly improved in August, almost reversing the drop in consumer confidence in July. Consumer confidence rose to -25 from -30, better than the -29 forecast.<\/p>\n<p>The data suggests that pressure on household spending could be easing as inflation ticks lower. The data comes as inflation cooled to 6.8% year on year in July down from 7.9% in June. However, it is also worth noting that retail sales data last week was weaker than expected and business activity data for August raised concerns of a recession in the UK.<\/p>\n<p>The market has lowered its peak rate expectations from 5.75% to 5.5% as a result of the weaker business activity data, which saw both manufacturing and services slow by more than expected.<\/p>\n<p>The euro is falling after German GDP and business climate data and ahead of a speech by European Central Bank President Christine Lagarde at the Jackson Hole Symposium in Wyoming later today.<\/p>\n<p>German GDP data confirmed that the economy stagnated in Q2 after the winter recession. GDP was 0% quarter on quarter, up from -0.1% in the first three months of the year. The Bundesbank has said that it expects output to remain unchanged again in the third quarter.<\/p>\n<p>Separately German business sentiment deteriorated further in August. The German IFO business climate gauge slipped to 85.7 down from 87.4.<\/p>\n<p>Looking ahead attention now turns to ECB President Christine Lagarde who is due to speak for the first time since the dismal PMI data. A less hawkish tone from Lagarde could pull the euro lower. Market expectations for a September hike have fallen following the PMI data earlier this week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises as consumer confidence improves Recession fears limit GBP upside Euro (EUR) falls as German economy stagnates Christine Lagarde to speak later today The Pound Euro (GBP\/EUR) exchange rate is rising, snapping a two-day losing run. The pair fell -0.54% in the previous session, settling on Thursday at \u20ac1.1652 and trading in a [&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-114924","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: Euro falls ahead of ECB Lagarde\u2019s speech - 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\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\/\" \/>\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\\\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro falls ahead of ECB Lagarde\u2019s speech\",\"datePublished\":\"2023-08-25T08:25:18+00:00\",\"dateModified\":\"2023-08-25T08:36:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\\\/\"},\"wordCount\":345,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\\\/#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\\\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/106785-gbp-eur-euro-falls-ahead-of-ecb-lagardes-speech\\\/\",\"name\":\"GBP\\\/EUR: Euro falls ahead of ECB Lagarde\u2019s speech - 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