{"id":85346,"date":"2020-01-22T02:00:48","date_gmt":"2020-01-22T07:00:48","guid":{"rendered":"https:\/\/currencylive.com\/?p=85346"},"modified":"2020-01-22T02:00:48","modified_gmt":"2020-01-22T07:00:48","slug":"102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\/","title":{"rendered":"GBP\/EUR: Pound Holds Gains vs Euro Ahead of ECB Rate Announcement"},"content":{"rendered":"

The pound advanced versus the euro<\/a> in the previous session as investors pushed back on Bank of England (BoE) rate cut expectations. The pound euro exchange rate closed Tuesday\u2019s session 0.4% higher at \u20ac1.1773, 3 points off the high of the\u00a0 day. The pair is holding steady in early trade on Wednesday as investors look ahead to the European Central Bank monetary policy announcement.<\/p>\n

The pound surged after a report from the Office of National Statistics (ONS) showed that the UK labour market was in good shape despite the British economy showing signs of strain. Labour market data<\/a> showed that the number of people in work increased by more than what analysts were expecting in the three months to the end of November with 208,000 jobs created versus 110,000 forecast. The employment rate was at the highest level since records began 50 year ago.<\/p>\n

Wage growth data also surprised to the upside, increasing 3.2%, beating analysts\u2019 expectations of 2.9%. The strong data eased concerns of an interest rate cut by the BoE at the end of the month. The BoE could instead opt to wait until the March meeting, by which time they will have more data on which to base their decision.<\/p>\n

Today investors will look towards public sector net borrowing for an insight into the health of public sector finances ahead of Brexit<\/a>.<\/p>\n

ECB Strategic Review Under The Spotlight<\/h2>\n

Losses in the euro were capped on Tuesday by data showing that German investors were at their most optimistic since 2015. The German ZEW sentiment index jumped to 26.7 in December, up from 10.7 in December. The improved mood was mainly owing to the US \u2013 China phase one trade deal agreed in December and signed last week, after 18 months of trade tensions and conflict.<\/p>\n

Despite the better mood, the ZEW institute also highlighted that the growth outlook for Germany, remains subdued.<\/p>\n

Today investors will look towards the ECB monetary policy meeting. The central bank is not expected to alter monetary policy. That said, the central bank\u2019s stance is still expected to remain firmly skewed towards further easing. A strategic review could also see the ECB change the inflation target this year. The ECB are expected to look more closely at the effects of ultra-loose monetary policy. This could go some way to healing the divisions within the central bank.<\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
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

For example, it could be written:<\/p>\n

1 GBP = 1.13990 EUR<\/p>\n

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

Or, if you were looking at it the other way around:<\/p>\n

1 EUR = 0.87271 GBP<\/em><\/p>\n

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>\n

\n
Currencylive.com<\/em> is a news site only and not a currency trading platform.<\/em><\/h6>\n
Currencylive.com is a site operated by TransferWise Inc. (“We”, “Us”), 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":"

The pound advanced versus the euro in the previous session as investors pushed back on Bank of England (BoE) rate cut expectations. The pound euro exchange rate closed Tuesday\u2019s session 0.4% higher at \u20ac1.1773, 3 points off the high of the\u00a0 day. The pair is holding steady in early trade on Wednesday as investors look […]<\/p>\n","protected":false},"author":163946597,"featured_media":4351,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1439,1413,1395,1393,1394,1388,1391,1392,2151],"class_list":["post-85346","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-boe","tag-ecb","tag-eur","tag-euro","tag-gbp","tag-jobs-data","tag-pound","tag-sterling","tag-strategic-review"],"acf":[],"yoast_head":"\nGBP\/EUR: Pound Holds Gains vs Euro Ahead of ECB Rate 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\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-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\\\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Holds Gains vs Euro Ahead of ECB Rate Announcement\",\"datePublished\":\"2020-01-22T07:00:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\\\/\"},\"wordCount\":757,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100363-gbp-eur-uk-gdp-ecb-meeting.jpg\",\"keywords\":[\"boe\",\"ecb\",\"eur\",\"euro\",\"gbp\",\"Jobs Data\",\"pound\",\"sterling\",\"strategic review\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102132-gbp-eur-pound-holds-gains-vs-euro-ahead-of-ecb-rate-announcement\\\/\",\"name\":\"GBP\\\/EUR: Pound Holds Gains vs Euro Ahead of ECB Rate Announcement - 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