{"id":118257,"date":"2024-09-10T19:13:04","date_gmt":"2024-09-10T18:13:04","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118257"},"modified":"2024-09-10T19:39:24","modified_gmt":"2024-09-10T18:39:24","slug":"109240-gbp-eur-pound-rises-after-mixed-labour-market-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\/","title":{"rendered":"GBP\/EUR: Pound rises after mixed labour market data"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) rises as unemployment fell to 4.1%<\/strong><\/li>\n<li><strong>UK pay growth eased to 4% \u00a0<\/strong><\/li>\n<li><strong>Euro (EUR) holds steady despite German inflation cooling<\/strong><\/li>\n<li><strong>ECB are expected to cut rates on Thursday<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is rising on Tuesday for a second straight day. The pair added 0.08% in the previous session, settling on Monday at \u20ac1.1862 and trading in a range between \u20ac1.1831 and \u20ac1.1862. At 18:00 UTC, GBP\/EUR trades +0.12% at \u20ac1.1860.<\/p>\n<p>The pound is rising on Tuesday as investors digested a mixed labor market report that suggested the UK jobs market may be cooling, albeit at a slow pace.<\/p>\n<p>Unemployment in the UK ticked lower in line with expectations to 4.1%, down from 4.2%. Meanwhile, wage growth excluding bonuses eased by more than expected to 4%, down from 4.5%. Economists had expected this to be 4.1%<\/p>\n<p>Cooling wage growth suggests that price pressures are easing, which supports the view that the Bank of England could move to cut interest rates again. However, the data doesn&#8217;t require immediate action from the Bank of England, supporting the view that policymakers will likely keep interest rates unchanged in September and cut again in November.<\/p>\n<p>The market is fully pricing in a November rate cut and sees the central bank cut rates by 47 basis points by the end of the year.<\/p>\n<p>Attention will now turn to UK GDP data, which is due tomorrow and is expected to show that the economy grew very modestly in July.<\/p>\n<p>Meanwhile, the euro is falling after the data confirmed that inflation in the eurozone&#8217;s largest economy cooled below the ECB&#8217;s 2% target.<\/p>\n<p>Inflation in Germany eased to 1.9% year on year aligning with the preliminary reading and adding to expectations that the European Central Bank will reduce interest rates again this week.<\/p>\n<p>The data comes after other data from Germany in recent sessions had pointed to a deteriorating economic outlook.<\/p>\n<p>The ECB will meet on Thursday and is expected to cut interest rates for a second time by 25 basis points, taking the main interest rate to 3.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises as unemployment fell to 4.1% UK pay growth eased to 4% \u00a0 Euro (EUR) holds steady despite German inflation cooling ECB are expected to cut rates on Thursday The Pound Euro (GBP\/EUR) exchange rate is rising on Tuesday for a second straight day. The pair added 0.08% in the previous session, settling [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5320,"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-118257","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: Pound rises after mixed labour market 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\/109240-gbp-eur-pound-rises-after-mixed-labour-market-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\\\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound rises after mixed labour market data\",\"datePublished\":\"2024-09-10T18:13:04+00:00\",\"dateModified\":\"2024-09-10T18:39:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\\\/\"},\"wordCount\":337,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100878-gbp-eur-brexit-hopes-lift-pound.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\\\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109240-gbp-eur-pound-rises-after-mixed-labour-market-data\\\/\",\"name\":\"GBP\\\/EUR: Pound rises after mixed labour market data - 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