{"id":95660,"date":"2020-02-07T03:21:39","date_gmt":"2020-02-07T08:21:39","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95660"},"modified":"2020-02-07T03:21:29","modified_gmt":"2020-02-07T08:21:29","slug":"102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\/","title":{"rendered":"GBP\/EUR: Brexit No Trade Deal Fears Depresses Pound"},"content":{"rendered":"<ul>\n<li><a href=\"#poundtoeuro\">GBP investors have been short of economic data to focus on in the latter part of this week<\/a><\/li>\n<li><a href=\"#euronews\">Euro traded broadly flat versus its peers in the previous session despite dismal German data<\/a><\/li>\n<\/ul>\n<p><a href=\"http:\/\/currencyllive.com\/news\/currency\/gbp\">The pound<\/a> skidded lower versus the euro on Thursday as Brexit concerns overshadowed surprisingly weak German data. The <a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-to-gbp-exchange-rate-today\/\">pound euro exchange rate<\/a> declined 0.3% to close the session at \u20ac1.1775. The pair has shed over 1% so far this week as it moves into the last day of trading ahead of the weekend.<\/p>\n<h2 id=\"poundtoeuro\">Pound to Euro: GBP investors have been short of economic data to focus on in the latter part of this week<\/h2>\n<p>This left investors little choice but to center on the future EU \u2013 UK trade relationship. Boris Johnson&#8217;s hard negotiating stance is unnerving pound investors. The prime minister laid out plans which could deprive the UK financial sector access to the EU market. \u00a0This has alarmed investors, particularly given the importance of what the financial services in the UK contribute to the economy.<\/p>\n<p>In 2018 UK financial service exports to EU was worth over \u00a326.1 billion against imports of just \u00a36.1 billion. The EU is the UK\u2019S largest financial market export market. Whilst many financial services firms have contingency plans, these are at a bare minimum. In the case of a no trade deal Brexit, many firms would almost certainty shift more staff and resources over to the continent. This would be bad news for the UK economy.<\/p>\n<h2 id=\"euronews\">Euro traded broadly flat versus its peers in the previous session despite dismal German data<\/h2>\n<p>Factory orders from Europe\u2019s largest economy unexpectedly slumped in December by -2.1% month on month, the fast pace of declines in almost a decade. This was well short of the 0.8% forecast. On an annual basis factory orders declined -8.7% compared to a year ago, down from -6%.<\/p>\n<p>Factory orders are a closely watched gauge because they indicate future output. The data clearly shows that the recession in the German manufacturing sector is far from over.<\/p>\n<p>Euro investors could be in store for more disappointing data. Analysts are expecting German industrial production to decrease -3.7% compared to a year earlier, in December, down from -2.6% in November.<\/p>\n<p>These figures won\u2019t include any impact of coronavirus. Some banks are predicting that China will only reach economic growth of 4.6% this year, short of its 6% target. Any economic slowdown will be felt in exported nation Germany.<\/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>GBP investors have been short of economic data to focus on in the latter part of this week Euro traded broadly flat versus its peers in the previous session despite dismal German data The pound skidded lower versus the euro on Thursday as Brexit concerns overshadowed surprisingly weak German data. The pound euro exchange rate [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5573,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1396,1386,1395,1393,2243,1394,1424,1391,1392],"class_list":{"0":"post-95660","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-eur","12":"tag-euro","13":"tag-financial-services","14":"tag-gbp","15":"tag-german-recession","16":"tag-pound","17":"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: Brexit No Trade Deal Fears Depresses Pound - 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\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Brexit No Trade Deal Fears Depresses Pound\",\"datePublished\":\"2020-02-07T08:21:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\\\/\"},\"wordCount\":653,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100626-gbp-eur-johnson-brexit-rivals-gain.jpg\",\"keywords\":[\"boris johnson\",\"Brexit\",\"eur\",\"euro\",\"financial services\",\"gbp\",\"german recession\",\"pound\",\"sterling\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102307-gbp-eur-brexit-no-trade-deal-fears-depresses-pound\\\/\",\"name\":\"GBP\\\/EUR: Brexit No Trade Deal Fears Depresses Pound - 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