{"id":115265,"date":"2023-10-30T10:44:07","date_gmt":"2023-10-30T10:44:07","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115265"},"modified":"2023-10-30T10:44:28","modified_gmt":"2023-10-30T10:44:28","slug":"107787-gbp-eur-euro-inches-higher-after-german-gdp-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\/","title":{"rendered":"GBP\/EUR: Euro inches higher after German GDP data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) falls as net mortgage approvals drop<\/strong><\/li>\n<li><strong>BoE will meet on Thursday<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rises slightly after better-than-expected German data<\/strong><\/li>\n<li><strong>German CPI data is due later<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is falling extending modest losses from the previous week. The pair fell -0.04% last week, settling on Friday at \u20ac1.1472 and trading in a range between \u20ac1.1449 &#8211; \u20ac1.1517. At 10:00 UTC, GBP\/EUR trades -0.04% at \u20ac1.1466.<\/p>\n<p>The euro is edging higher after data showed that the German economy held up better than expected in the third quarter.<\/p>\n<p>Figures showed that the eurozone&#8217;s largest economy shrank by 0.1% quarter on quarter in the July to September period. This was ahead of a 0.3% contraction that economists had forecast.<\/p>\n<p>Even though it was better than expected, the data still highlights the struggles that the German economy is facing, as it is one of the growth laggards of the eurozone.<\/p>\n<p>Looking ahead, attention turns to German inflation figures, which are expected to show that inflation cooled to 4%. Year on year in October, down from 4.5% in September. While this shows that inflation is on the right trajectory, it&#8217;s still two times the ECB&#8217;s 2% target.<\/p>\n<p>With the economy in contraction and inflation still high, the German economy is stuck in stagflation. The data will do little to quieten current concerns that Germany is still the sick man of Europe, as the economy has only grown two out of the last six quarters.<\/p>\n<p>The gloomy picture is unlikely to change anytime soon and acts as a headwind to the ECB, keeping rates high for longer in order to control inflation.<\/p>\n<p>The pound is edging lower as investors digest the latest mortgage and jobs data.<\/p>\n<p>According to Adzuna, a job search website, online job adverts fell by 1.6% in September from August, and advertised salaries fell by the same amount.<\/p>\n<p>Meanwhile, UK mortgage approval tanked to the lowest level since January, according to data from the Bank of England, reflecting the impact of high interest rights on lending.<\/p>\n<p>Net approval for mortgages for house purchases fell to 43,300 last month, down from 45,400 in August.<\/p>\n<p>The data comes ahead of the Bank of England&#8217;s interest rate decision on Thursday, where the bank is expected to leave rates unchanged at 5.25%.<\/p>\n<p>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) falls as net mortgage approvals drop BoE will meet on Thursday Euro (EUR) rises slightly after better-than-expected German data German CPI data is due later The Pound Euro (GBP\/EUR) exchange rate is falling extending modest losses from the previous week. The pair fell -0.04% last week, settling on Friday at \u20ac1.1472 and trading [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4692,"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":{"0":"post-115265","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-gbp","11":"tag-gbp-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro inches higher after German GDP 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\/107787-gbp-eur-euro-inches-higher-after-german-gdp-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\\\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro inches higher after German GDP data\",\"datePublished\":\"2023-10-30T10:44:07+00:00\",\"dateModified\":\"2023-10-30T10:44:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\\\/\"},\"wordCount\":378,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100541-gbp-eur-german-coalition.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\\\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107787-gbp-eur-euro-inches-higher-after-german-gdp-data\\\/\",\"name\":\"GBP\\\/EUR: Euro inches higher after German GDP data - 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