{"id":115015,"date":"2023-09-12T07:00:16","date_gmt":"2023-09-12T06:00:16","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115015"},"modified":"2023-09-12T09:27:47","modified_gmt":"2023-09-12T08:27:47","slug":"107706-gbp-eur-pound-looks-to-uk-jobs-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107706-gbp-eur-pound-looks-to-uk-jobs-data\/","title":{"rendered":"GBP\/EUR: Pound looks to UK jobs data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) could slip if the job market cools<\/strong><\/li>\n<li><strong>Unemployment expected to rise to 4.3%<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) looks to German ZEW economic sentiment<\/strong><\/li>\n<li><strong>EU Commission downwardly revised GDP forecasts<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising, after losses in the previous session. The pair fell -0.18% yesterday, settling on Monday at \u20ac1.1632 and trading in a range between \u20ac1.1633 &#8211; \u20ac1.1687. At 06:35 UTC, GBP\/EUR trades +0.08% at \u20ac1.1640.<\/p>\n<p>The pound was flat against the euro in the previous session amid a lack of fresh fundamental drivers for investors to sink their teeth into. However, that is set to change today as attention turns to the UK labour market data.<\/p>\n<p>The data is expected to show that unemployment ticked higher to 4.3% in July, up from 4.2% in June; meanwhile, average earnings excluding bonuses in the three months to July are expected to ease slightly to 7.6%, down from 7.8%.<\/p>\n<p>A weakening in the UK labour market would take pressure off the Bank of England to raise interest rates aggressively.<\/p>\n<p>Investors are currently expecting the Bank of England to hike interest rates by a further 25 basis points in the meeting next week, taking the rate to 5.5%. However, there is a growing expectation that this could be the last hike.<\/p>\n<p>BoE governor Andrew Bailey told the Treasury Select Committee last week that UK interest rates could be near their peak.<\/p>\n<p>The euro saw a lacklustre performance in the previous session as investors digested news that the European Commission had downwardly revised the region&#8217;s growth forecast for this year and next.<\/p>\n<p>The EU Commission now forecasts growth of 0.8% in 2023, down from 1.1%, and growth in 2024 is expected to be 1.3%, down from 1.6% expected previously.<\/p>\n<p>The downward revision comes after a series of weaker-than-expected data and after Q2 GDP was downwardly revised to 0.1%.<\/p>\n<p>Attention now turns to German ZEW economic sentiment data, which is expected to deteriorate further in September. The economic sentiment index is set to fall to -15 from -12.3, and current conditions are expected to decline to -75 from -71. Weak data could highlight the region&#8217;s deteriorating outlook, particularly in the eurozone&#8217;s largest economy.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) could slip if the job market cools Unemployment expected to rise to 4.3% Euro (EUR) looks to German ZEW economic sentiment EU Commission downwardly revised GDP forecasts The Pound Euro (GBP\/EUR) exchange rate is rising, after losses in the previous session. The pair fell -0.18% yesterday, settling on Monday at \u20ac1.1632 and trading [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4043,"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-115015","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 looks to UK jobs 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\/107706-gbp-eur-pound-looks-to-uk-jobs-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\\\/107706-gbp-eur-pound-looks-to-uk-jobs-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107706-gbp-eur-pound-looks-to-uk-jobs-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound looks to UK jobs data\",\"datePublished\":\"2023-09-12T06:00:16+00:00\",\"dateModified\":\"2023-09-12T08:27:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107706-gbp-eur-pound-looks-to-uk-jobs-data\\\/\"},\"wordCount\":353,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107706-gbp-eur-pound-looks-to-uk-jobs-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100209-gbp-eur-boe-rate-decision.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\\\/107706-gbp-eur-pound-looks-to-uk-jobs-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107706-gbp-eur-pound-looks-to-uk-jobs-data\\\/\",\"name\":\"GBP\\\/EUR: Pound looks to UK jobs data - 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