{"id":4270,"date":"2018-01-25T00:00:00","date_gmt":"2018-01-25T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100323-gbp-eur-ecb-policy-announcement\/"},"modified":"2018-01-25T00:00:00","modified_gmt":"2018-01-25T05:00:00","slug":"100323-gbp-eur-ecb-policy-announcement","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/","title":{"rendered":"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement"},"content":{"rendered":"<p>Strong U.K. labour data helped push the pound to a six-week high versus the euro on Wednesday. At its strongest, the pound traded almost 1% higher at \u20ac1.1494, a level which was last seen in early December.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>What do these figures mean? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p> When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute. <\/p>\n<p> For example, it could be written: <em>1 GBP = 1.13990 EUR<\/em> <\/p>\n<p> <em>Here, \u00a31 is equivalent to approximately \u20ac1.14. This specifically measures the pound\u2019s worth against the euro. If the euro amount increases in this pairing, it\u2019s positive for the pound.<\/em> <\/p>\n<p> Or, if you were looking at it the other way around: <em>1 EUR = 0.87271 GBP<\/em> <\/p>\n<p> <em>In this example, \u20ac1 is equivalent to approximately \u00a30.87. This measures the euro\u2019s worth versus the British pound. If the sterling number gets larger, it\u2019s good news for the euro.<\/em> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Data from the Office of National Statistics showed that employment levels in the U.K. hit the highest level since 1971. The number of people in work unexpectedly increased by 102,000 in the three months to November, surprising analysts, who had forecast a decline of 13,000. The jobs report also showed that average wages increased 2.4% in the three months to November, ahead of 2.3% in October and beating analysts forecasts.<\/p>\n<p>With inflation at 3.1%, the U.K. consumer is still under considerable pressure. However, inflation did tick lower in December whilst wages rising at the fastest rate since 2016. Should this trend continue, the consumer should start to feel the pressure on the purse ease going forward through the year. This is good news for the British economy which is so dependent on the consumer spending. The pound rallied following the release.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>How does strong jobs data boost the currency? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>It works like this, when there is low unemployment and high job creation, the demand for workers increases. As demand for workers goes up, wages for those workers also go up. Which means the workers are now taking home more money to spend on cars, houses or in the shops. As a result, demand for goods and services also increase, pushing the prices of the good and services higher. That\u2019s also known as inflation. When inflation moves higher, central banks are more likely to raise interest rates, which then pushes the worth of the currency higher. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Today, market participants will continue to look towards the economic releases, with Confederation of British Industry (CBI) retail sales survey. After ONS retail sales figures missed analysts estimates in December, investor will be keen to see how sales are holding up.<\/p>\n<h2><a href=\"#euro-weaker-ahead-of-ecb-announcement\" name=\"euro-weaker-ahead-of-ecb-announcement\"><\/a>Euro Weaker Ahead of ECB Announcement<\/h2>\n<p>The eurozone economy continues to show signs of strength in 2018. The Markit PMI figures suggest that the blocs economy is growing at its fastest pace in almost 12 years. The composite, manufacturing and services PMI numbers show an extremely robust level of growth which bodes well for the health of the eurozone economy going forward.<\/p>\n<p>Today investor attention will be firmly focused on the European Central Bank (ECB) announcement following the Governing Councils\u2019 two-day monetary policy meeting. Neither analysts or investors are expecting the ECB to raise interest rates. However, some investors could be expecting a slight change in the forward guidance statement made by ECB President Mario Draghi. Some are also hoping that the ECB could announce a plan to end the current bond buying programme quicker than previously believed. However, given that inflation in the bloc remains weak, such large changes are likely to happen this month. Should these investors be disappointed by Draghi\u2019s comments, the euro could fall as investors push back the odds of monetary policy tightening.<\/p>\n<table class=\"table table-bordered\">\n<tbody>\n<tr>\n<td>\n<p><small><em><br \/>\nThis publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Inc., Currency Live or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Consult our <a href=\"https:\/\/currencylive.com\/risk-warning\/\">risk warning<\/a> page for more details.<\/em><\/small><\/p>\n<p><small><em>This article was initially published on TransferWise.com from the same author. The content at Currency Live is the sole opinion of the authors and in no way reflects the views of TransferWise Inc.<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strong U.K. labour data helped push the pound to a six-week high versus the euro on Wednesday. At its strongest, the pound traded almost 1% higher at \u20ac1.1494, a level which was last seen in early December. What do these figures mean? When measuring the value of a pair of currencies, one set equals 1 [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4271,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394],"class_list":["post-4270","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement - 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\/100323-gbp-eur-ecb-policy-announcement\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement\",\"datePublished\":\"2018-01-25T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/\"},\"wordCount\":779,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100323-gbp-eur-ecb-policy-announcement.jpg\",\"keywords\":[\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/\",\"name\":\"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100323-gbp-eur-ecb-policy-announcement.jpg\",\"datePublished\":\"2018-01-25T05:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100323-gbp-eur-ecb-policy-announcement.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100323-gbp-eur-ecb-policy-announcement.jpg\",\"width\":720,\"height\":400,\"caption\":\"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100323-gbp-eur-ecb-policy-announcement\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/fiona-cincotta-bb4a4845\\\/\"],\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/fiona-cincotta\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement","datePublished":"2018-01-25T05:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/"},"wordCount":779,"image":{"@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100323-gbp-eur-ecb-policy-announcement.jpg","keywords":["eur","gbp"],"articleSection":["EUR","GBP"],"inLanguage":"en-US","copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/","url":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/","name":"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100323-gbp-eur-ecb-policy-announcement.jpg","datePublished":"2018-01-25T05:00:00+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100323-gbp-eur-ecb-policy-announcement.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100323-gbp-eur-ecb-policy-announcement.jpg","width":720,"height":400,"caption":"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/100323-gbp-eur-ecb-policy-announcement\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"Pound Closes In On \u00e2\u201a\u00ac1.15 Versus Euro Ahead of ECB Policy Announcement"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec","name":"Fiona Cincotta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","caption":"Fiona Cincotta"},"description":"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.","sameAs":["https:\/\/www.linkedin.com\/in\/fiona-cincotta-bb4a4845\/"],"url":"https:\/\/currencylive.com\/news\/author\/fiona-cincotta\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100323-gbp-eur-ecb-policy-announcement.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/4270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946597"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=4270"}],"version-history":[{"count":0,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/4270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/4271"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=4270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=4270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=4270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}