{"id":5031,"date":"2018-11-12T00:00:00","date_gmt":"2018-11-12T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100725-gbp-eur-brexit-italian-budget\/"},"modified":"2018-11-12T00:00:00","modified_gmt":"2018-11-12T05:00:00","slug":"100725-gbp-eur-brexit-italian-budget","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100725-gbp-eur-brexit-italian-budget\/","title":{"rendered":"GBP\/EUR: Brexit &#038; Italian Budget Concerns To Drive Trading"},"content":{"rendered":"<p>Despite a lack of solid Brexit developments across the previous week, the pound still managed to gain 0.4% versus the euro. After opening the previous week at \u20ac1.1393 and hitting a six month high of \u20ac1.1511, the pair closed at \u20ac1.1448.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th><small> What do these figures mean? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> 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.h If the euro amount increases in this pairing, it\u2019s positive for the pound. Or, if you were looking at it the other way around:<em>1 EUR = 0.87271 GBP<\/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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The pound advanced last week thanks to speculation that there could be a Brexit deal between the UK and Brussels in coming weeks. Brexit will continue to dictate movement in the pound\u2019s performance this week as the November 21st deadline that Brexit Secretary Dominic Raab touted draws closer.<\/p>\n<p>However, the UK Prime Minister, Theresa May\u2019s hold on power is once again looking shaky. Theresa May was forced to accept a resignation from her UK transport minister on Friday and a second cabinet minister has also threatened the same. More ministers are rejecting a key part of the Brexit plan, which will enable Brussels to have joint say over the UK\u2019s right to break free of the Irish backstop. Theresa May trying to force it through could lead to her downfall, or a flat-out rejection of the Brexit deal by Parliament, making a hard no deal Brexit more likely.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th><small> Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> 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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Pound traders also digested mixed GDP data on Friday. Figures showed that UK economic growth maintained a healthy momentum in the third quarter, hitting a near two year high. However, business investment contracted unexpectedly. This shows that businesses were hesitant to invest amid growing Brexit uncertainty.<\/p>\n<p>There is no UK economic data due for release today, so Brexit will continue to be the principal driving force.<\/p>\n<h2><a href=\"#italian-budget-fears-to-return\" id=\"italian-budget-fears-to-return\"><\/a>Italian Budget Fears To Return?<\/h2>\n<p>Recent weakness in the euro has been due to growing concerns that that the eurozone economy is slowing. As a result, investors will be paying particular attention to eurozone ecostats across the week. Whilst there are no major releases due today, the calendar picks up through the week. German inflation figures, ZEW economic sentiment data, Eurozone growth projections and eurozone inflation numbers are all expected to offer further clues on the health of the Eurozone economy.<\/p>\n<p>Concerns over Italy\u2019s spending plans will also return to the spotlight this week. As Brussel\u2019s deadline for a budget resubmission nears, Italy\u2019s populist government is standing defiant, with few, if any, changes. Political risk could weigh on the euro.<\/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>Despite a lack of solid Brexit developments across the previous week, the pound still managed to gain 0.4% versus the euro. After opening the previous week at \u20ac1.1393 and hitting a six month high of \u20ac1.1511, the pair closed at \u20ac1.1448. What do these figures mean? When measuring the value of a pair of currencies, [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1386,1395,1394],"class_list":["post-5031","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-brexit","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>GBP\/EUR: Brexit &amp; Italian Budget Concerns To Drive Trading - 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\/100725-gbp-eur-brexit-italian-budget\/\" \/>\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\\\/100725-gbp-eur-brexit-italian-budget\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100725-gbp-eur-brexit-italian-budget\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Brexit &#038; 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