{"id":115819,"date":"2024-02-29T10:32:48","date_gmt":"2024-02-29T10:32:48","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115819"},"modified":"2024-02-29T10:45:07","modified_gmt":"2024-02-29T10:45:07","slug":"108065-gbp-eur-euro-rises-after-french-spanish-inflation-ahead-of-german-cpi","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/108065-gbp-eur-euro-rises-after-french-spanish-inflation-ahead-of-german-cpi\/","title":{"rendered":"GBP\/EUR: Euro rises after French &#038; Spanish inflation &#038; ahead of German CPI"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) falls amid a lack of catalysts<\/strong><\/li>\n<li><strong>UK house prices to grow next year<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rises after hotter-than-expected French, Spanish CPI<\/strong><\/li>\n<li><strong>German CPI is up next<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is falling for a second straight day. The pair fell 0.10% in the previous session, settling on Wednesday at \u20ac1.1680 and trading in a range between \u20ac1.1672 &#8211; \u20ac1.1703. At 11:00 UTC, GBP\/EUR trades -0.03% at \u20ac1.1677.<\/p>\n<p>The euro is heading higher after French and Spanish inflation came in hotter than expected and ahead of German in inflation later today.<\/p>\n<p>In France, the eurozone&#8217;s second-largest economy, inflation cooled to 3.1% in the year to February, down from 3.4% a month earlier. While this was the lowest reading since September 2021, it was also slightly above the 3% level economists had penciled in.<\/p>\n<p>Meanwhile, inflation in Spain fell to 2.9% in February, taking it back below 3% for the first time in six months. However, this was slightly above the 2.8% that investors were expecting.<\/p>\n<p>Both countries saw a faster growth in energy prices, which offset a sharp slowdown in food costs. However, the hotter-than-expected inflation dented expectations that the ECB would start cutting interest rates soon, supporting the euro higher.<\/p>\n<p>Attention now turns to German inflation data, which is expected to cool to 2.6% year on year, down from 2.9% previously. Hotter-than-expected inflation could add to the view that the ECB will not rush to cut rates.<\/p>\n<p>Elsewhere, German retail sales unexpectedly fell 0.4% month on month in January against expectations of a 0.5% rise. Data comes after retail sales slid by 1.6% in December, with the figures highlighting the struggles that households face amid record-high interest rates and still elevated inflation.<\/p>\n<p>Meanwhile, the pound is drifting amid a lack of fresh catalysts. With no high impacting data, investors look to home prices, which are expected to flatline this year and rise 3% in the coming year as borrowing costs are forecast to fall from the 16-year peak of 5.25%.<\/p>\n<p>Meanwhile, Claire Lombardelli, currently the chief economist at the OECD, has been named the next deputy governor for the monetary policy at the Bank of England. She will begin her five-year term on July 1st, replacing Ben Broadbent.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) falls amid a lack of catalysts UK house prices to grow next year Euro (EUR) rises after hotter-than-expected French, Spanish CPI German CPI is up next The Pound Euro (GBP\/EUR) exchange rate is falling for a second straight day. The pair fell 0.10% in the previous session, settling on Wednesday at \u20ac1.1680 and [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4533,"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-115819","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 rises after French &amp; Spanish inflation &amp; ahead of German CPI - 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\/108065-gbp-eur-euro-rises-after-french-spanish-inflation-ahead-of-german-cpi\/\" \/>\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\\\/108065-gbp-eur-euro-rises-after-french-spanish-inflation-ahead-of-german-cpi\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/108065-gbp-eur-euro-rises-after-french-spanish-inflation-ahead-of-german-cpi\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro rises after French &#038; 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