{"id":4923,"date":"2018-10-02T00:00:00","date_gmt":"2018-10-02T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100667-gbp-eur-fourth-session-pound\/"},"modified":"2018-10-02T00:00:00","modified_gmt":"2018-10-02T04:00:00","slug":"100667-gbp-eur-fourth-session-pound","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100667-gbp-eur-fourth-session-pound\/","title":{"rendered":"GBP\/EUR: Can Pound Rise For A Fourth Straight Session vs. Euro?"},"content":{"rendered":"<p>The pound continued to move higher versus the euro at beginning of the week. Strong UK manufacturing figures and fresh concerns over Italy pushed the pair 0.3% higher to \u20ac1.1282. This is the third straight session of gains for the pound euro exchange rate.<\/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>\n<p>The pound climbed northwards in the previous session. Investors turned their attention away from the UK Conservative annual party conference and focused on the UK economic calendar. UK manufacturing activity unexpectedly moved higher in September. Analysts had been expecting activity in the manufacturing to continue declining in September after a slump in the previous month. Instead the sector expanded at 53.8, up from 53 in August whereby any figure above 50 indicates expansion. The survey also noted that business sentiment had improved; an encouraging sign as Brexit looms closer.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why does strong economic data boost a country\u2019s currency?<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Solid economic indicators point to a strong economy. Strong economies have strong currencies because institutions look to invest in countries where growth prospects are high. These institutions require local currency to invest in the country, thus increasing demand and pushing up the money\u2019s worth. So, when a country or region has good economic news, the value of the currency tends to rise.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The UK Conservative party annual conference will remain on focus today. On Monday, the second day of the conference UK Brexit Secretary Dominic Saab said the UK was ready to listen to alternative ways of doing Brexit. His comments come after UK Prime Minister Theresa May\u2019s Chequers Brexit plan has been attacked from all sides. Saab\u2019s words showed that the UK was still keen to do a deal. This boosted the pound.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit?<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>A soft Brexit implies anything less than UK\u2019s complete withdrawal from the EU. For example, it could mean the UK retains some form of membership to the European Union single market in exchange for some free movement of people, i.e. immigration. This is considered more positive than a \u201chard\u201d Brexit, which is a full severance from the EU. The reason \u201csoft\u201d is considered more pound-friendly is because the economic impact would be lower. If there is less negative impact on the economy, foreign investors will continue to invest in the UK. As investment requires local currency, this increased demand for the pound then boosts its value.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><a href=\"#italy--weak-data-hits-sentiment\" id=\"italy--weak-data-hits-sentiment\"><\/a>Italy &amp; Weak Data Hits Sentiment<\/h2>\n<p>Concerns over Italy and weak eurozone data kept the euro under pressure on Monday. The EU told Italy\u2019s coalition government that it must stick to the bloc\u2019s spending rules and have requested further details from Rome over its budget plans. This has unsettled the investors as a showdown between Italy and Brussels could now be on the cards. Talks are continuing in Rome. However, political instability within Europe\u2019s fourth largest economy in unnerving euro traders.<\/p>\n<p>In addition to the growing tensions in Rome, investors digested manufacturing data that missed analysts\u2019 forecasts. Eurozone manufacturing PMI dipped to 53.2 in September, marginally lower than the 53.3 that city analysts had pencilled in. This is the lowest rate of expansion in the manufacturing sector for 2 years, providing a gloomy outlook for investors.<\/p>\n<p>Today market participants will look towards inflation data at wholesale level. The eurozone producer price index will be closely watched after consumer inflation slipped lower last week.<\/p>\n<hr \/>\n<p><small><\/p>\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>The pound continued to move higher versus the euro at beginning of the week. Strong UK manufacturing figures and fresh concerns over Italy pushed the pair 0.3% higher to \u20ac1.1282. This is the third straight session of gains for the pound euro exchange rate. What do these figures mean? When measuring the value of a [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4924,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394],"class_list":{"0":"post-4923","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"},"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: Can Pound Rise For A Fourth Straight Session vs. Euro? - 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\/100667-gbp-eur-fourth-session-pound\/\" \/>\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\\\/100667-gbp-eur-fourth-session-pound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100667-gbp-eur-fourth-session-pound\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Can Pound Rise For A Fourth Straight Session vs. Euro?\",\"datePublished\":\"2018-10-02T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100667-gbp-eur-fourth-session-pound\\\/\"},\"wordCount\":843,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100667-gbp-eur-fourth-session-pound\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100667-gbp-eur-fourth-session-pound.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\\\/100667-gbp-eur-fourth-session-pound\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100667-gbp-eur-fourth-session-pound\\\/\",\"name\":\"GBP\\\/EUR: Can Pound Rise For A Fourth Straight Session vs. Euro? 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