{"id":84377,"date":"2020-01-02T02:00:48","date_gmt":"2020-01-02T07:00:48","guid":{"rendered":"https:\/\/currencylive.com\/?p=84377"},"modified":"2020-01-01T21:29:35","modified_gmt":"2020-01-02T02:29:35","slug":"101930-gbp-eur-uk-german-manufacturing-data-to-kick-trading-off-in-2020","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101930-gbp-eur-uk-german-manufacturing-data-to-kick-trading-off-in-2020\/","title":{"rendered":"GBP\/EUR: UK &#038; German Manufacturing Data To Kick Trading Off In 2020"},"content":{"rendered":"<p>The pound put in a final rally in a spectacular end to the year; a year in which the pound was the second top performing major currency. On the last day of the year, Tuesday, the pound euro exchange rate rallied 1%, hitting a high of \u20ac1.1832. Across the month of December, the pound rallied 0.75%, its fifth straight month of gains after rebounding off low of \u20ac1.0639 in August. The pound was edging lower in early trade on Thursday.<\/p>\n<p>Gains in the pound at the end of last year were extenuated by thin volumes in the forex market ahead of the New Year break. However, a more conciliatory tone and no nasty surprises from Boris Johnson has provided some support to the pound, which remains some 200 points below the post 12<sup>th<\/sup> December election high.<\/p>\n<p>Investors and traders will start returning to the market today although volumes are expected to remain thin until Monday.<\/p>\n<p>Today attention will turn towards UK manufacturing activity data. Analysts are expecting UK manufacturing sector to remain deep in contraction in the final reading for December at 47.6, up marginally from 47.4. The figure 50 separates expansion from contraction, highlighting the struggles faced by the UK manufacturing sector ahead of Brexit on 31<sup>st<\/sup> January.<\/p>\n<p>Whilst the UK will leave the EU on 31<sup>st<\/sup> January it will remain in the single market and customs union until the end of the transition period on 31<sup>st<\/sup> December 2020. During this period Brexit trade negotiations will take centre stage driving the pound.<\/p>\n<h3><strong>German Retail Sales &amp; Manufacturing In Focus<\/strong><\/h3>\n<p>The euro traded broadly higher in December, albeit less so than the pound. The euro advanced on improved risk sentiment as amid the announcement of a US \u2014 China first phase trade deal. President Trump has confirmed that the deal will be signed on 15<sup>th<\/sup> January before Trump heads to Beijing to discuss the next phase of the trade deal.<\/p>\n<p>The news not only lifted the euro owing to improved risk sentiment, but investors also hope that the phase one trade deal will boost the outlook for exporter nation Germany, which has been hit by slowing global demand amid the trade dispute.<\/p>\n<p>Investors are keen to see the bottoming out of the slump in the Germany economy, particularly the manufacturing sector which remains deep in contraction. German retail sales and German manufacturing pmi readings will be in focus today.<\/p>\n<p>&nbsp;<\/p>\n<table width=\"602\">\n<tbody>\n<tr>\n<td><strong>What do these figures mean?<\/strong><\/td>\n<\/tr>\n<tr>\n<td>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>&nbsp;<\/p>\n<p>For example, it could be written:<\/p>\n<p>1 GBP = 1.13990 EUR<\/p>\n<p>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<\/p>\n<p>.<\/p>\n<p>Or, if you were looking at it the other way around:<\/p>\n<p><em>1 EUR = 0.87271 GBP<\/em><\/p>\n<p>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.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The pound put in a final rally in a spectacular end to the year; a year in which the pound was the second top performing major currency. On the last day of the year, Tuesday, the pound euro exchange rate rallied 1%, hitting a high of \u20ac1.1832. Across the month of December, the pound rallied [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5174,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1396,1386,1483,1395,1393,1870,1690,1394,1424,1457,1454,1391,1392],"class_list":{"0":"post-84377","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-boris-johnson","10":"tag-brexit","11":"tag-election","12":"tag-eur","13":"tag-euro","14":"tag-exchange-rates","15":"tag-forex","16":"tag-gbp","17":"tag-german-recession","18":"tag-manufacturing","19":"tag-pmi","20":"tag-pound","21":"tag-sterling"},"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: UK &amp; German Manufacturing Data To Kick Trading Off In 2020 - 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\/101930-gbp-eur-uk-german-manufacturing-data-to-kick-trading-off-in-2020\/\" \/>\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\\\/101930-gbp-eur-uk-german-manufacturing-data-to-kick-trading-off-in-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101930-gbp-eur-uk-german-manufacturing-data-to-kick-trading-off-in-2020\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: UK &#038; 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