{"id":118237,"date":"2024-09-05T22:33:38","date_gmt":"2024-09-05T21:33:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118237"},"modified":"2024-09-05T22:49:06","modified_gmt":"2024-09-05T21:49:06","slug":"109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\/","title":{"rendered":"GBP\/EUR: Euro shows resilient as retail sales rebound"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) rises after 4-days of losses<\/strong><\/li>\n<li><strong>UK construction PMI was revised higher to 53.7<\/strong><\/li>\n<li><strong>Euro (EUR) is steady as retail sales rise<\/strong><\/li>\n<li><strong>German factory orders rose 2.9% YoY<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-usd-to-jpy-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is rising on Thursday after 4 days of losses. The pair fell 0.12% in the previous session, settling on Wednesday at \u20ac1.1858 and trading in a range between \u20ac1.1853 and \u20ac1.1894. At 18:00 UTC, GBP\/EUR trades 0.06% at \u20ac1.1867.<\/p>\n<p>The pound inched higher on Thursday even as growth in the UK construction sector slowed in August.<\/p>\n<p>According to the latest data from S&amp;P Global, the UK construction PMI fell to 53.6 in August from 55.3 in July. This was below expectations of a fall to 54.9.<\/p>\n<p>Delving deeper into the figures, the survey&#8217;s gauge for housing activity reached its highest level in two years. However, the sharp increase in home building was offset by a steep slowdown in the civil engineering sector owing to uncertainty surrounding projects ahead of the chancellor&#8217;s budget on October 30<sup>th<\/sup><\/p>\n<p>The data comes after UK services sector activity rose to a four-month high in August and after the manufacturing activity remained in growth territory.<\/p>\n<p>Upbeat data means the Bank of England could be less likely to cut interest rates in the September meeting. The market is not expecting a move from the central bank, which reduced interest rates by 25 basis points in August. The market is pricing in just a 25% probability of a September rate cut.<\/p>\n<p>The euro also remained resilient after retail sales rebounded in July, rising by 0.1% following a decline in June.<\/p>\n<p>The small increase was in line with economists&#8217; forecasts and reflects the region&#8217;s sluggish recovery. On an annual basis, retail sales fell by 0.1% in the eurozone, highlighting the ongoing challenges faced by consumer spending.<\/p>\n<p>German factory orders are another source of optimism. They rose by 2.9% month over month in July, the second consecutive month of increase. This is a rare piece of good news for the eurozone&#8217;s largest economy.<\/p>\n<p>Recent data from Germany has been disappointing, and this one-off data point is unlikely to brighten the outlook for the eurozone&#8217;s struggling economy.<\/p>\n<p>The German manufacturing sector has been hit hard by higher energy costs following the rushes of a Ukraine invasion and amid cooling demand abroad.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises after 4-days of losses UK construction PMI was revised higher to 53.7 Euro (EUR) is steady as retail sales rise German factory orders rose 2.9% YoY The Pound Euro (GBP\/EUR) exchange rate is rising on Thursday after 4 days of losses. The pair fell 0.12% in the previous session, settling on Wednesday [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-118237","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","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 shows resilient as retail sales rebound - 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\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\/\" \/>\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\\\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro shows resilient as retail sales rebound\",\"datePublished\":\"2024-09-05T21:33:38+00:00\",\"dateModified\":\"2024-09-05T21:49:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\\\/\"},\"wordCount\":381,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100882-gbp-eur-pound-falls-brexit-news.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109234-gbp-eur-euro-shows-resilient-as-retail-sales-rebound\\\/\",\"name\":\"GBP\\\/EUR: Euro shows resilient as retail sales rebound - 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