{"id":96567,"date":"2020-02-26T02:00:30","date_gmt":"2020-02-26T07:00:30","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=96567"},"modified":"2020-02-26T03:21:31","modified_gmt":"2020-02-26T08:21:31","slug":"102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\/","title":{"rendered":"GBP\/EUR: Pound Steady At \u20ac1.1950, Brexit Pessimism Could Limit Upside"},"content":{"rendered":"

The pound<\/a> was in recovery mode on Tuesday recouping Monday\u2019s losses and pulling the pound to euro<\/a> exchange rate back to \u20ac1.1950.<\/p>\n

GBP\/EUR<\/a> is hovering at this level in early trade on Wednesday, which is approximately the same level that it started the week at. Any attempted move higher by sterling is likely to be capped as investors look ahead to the start of Brexit<\/a> talks next week.<\/p>\n

GBP\/EUR: CBI Retail Sales At Highest Level Since April<\/h2>\n

The pound<\/a> advanced in the previous session, paring losses from earlier in the week, helped in part by encouraging sales data. Figures from the Confederation of British Industry (CBI) showed that British retail sales climbed higher in late January and early February, reaching the highest level since April.<\/p>\n

The CBI\u2019s monthly industry gauge rise to 1 in February, up from 0 the previous month. Whilst this was below analysts\u2019 expectations of 4, pound investors were willing to overlook the short fall after the survey also showed that retailers were planning to raise investment in the year ahead. This would be the first time in 2 years.<\/p>\n

Any rise in the pound will be limited as investors turn their attention squarely to Brexit before trade talks begin next week. Yesterday, ministers from the EU approved their mandate for the post Brexit trade negotiations with the UK. It says that EU standards should serve as a reference point in any future trade deal. Meanwhile UK ministers has agreed the government\u2019s mandate for the talks, which will be published on Thursday.<\/p>\n

Euro Vulnerable As Germany Stagnates & Coronavirus Spreads<\/h2>\n

The euro slipped versus pound on weak economic data from Germany. Europe\u2019s largest economy stagnated in the fourth quarter. The data showed that the weakness was caused principally by a slowdown in government and household spending. The industrial sector was also under pressure, whilst manufacturing has been in recession for almost half a year. On a positive note, the number of people employed rose. However, the overall picture is that it is still too early to call a recovery in the German economy.<\/p>\n

Today there is no high impacting eurozone data due for release today. Investors will keep an eye on ECB speakers, particularly regarding comments over coronavirus. Germany is a manufacturing, exporter nation and more vulnerable that other countries to any Chinese or global economic slowdown.<\/p>\n

\n
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The pound was in recovery mode on Tuesday recouping Monday\u2019s losses and pulling the pound to euro exchange rate back to \u20ac1.1950. GBP\/EUR is hovering at this level in early trade on Wednesday, which is approximately the same level that it started the week at. Any attempted move higher by sterling is likely to be […]<\/p>\n","protected":false},"author":163946597,"featured_media":4658,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1386,1657,1702,2139,1413,1395,1393,1409,1446],"class_list":{"0":"post-96567","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-brexit","10":"tag-british-pound","11":"tag-cbi","12":"tag-coronavirus","13":"tag-ecb","14":"tag-eur","15":"tag-euro","16":"tag-gdp","17":"tag-germany"},"acf":[],"yoast_head":"\nGBP\/EUR: Pound Steady At \u20ac1.1950, Brexit Pessimism Could Limit Upside - 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\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\/\" \/>\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\\\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Steady At \u20ac1.1950, Brexit Pessimism Could Limit Upside\",\"datePublished\":\"2020-02-26T07:00:30+00:00\",\"dateModified\":\"2020-02-26T08:21:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\\\/\"},\"wordCount\":647,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100524-gbp-usd-brexit-house-of-commons.jpg\",\"keywords\":[\"Brexit\",\"british pound\",\"CBI\",\"coronavirus\",\"ecb\",\"eur\",\"euro\",\"gdp\",\"germany\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102497-gbp-eur-pound-steady-at-e1-1950-brexit-pessimism-could-limit-upside\\\/\",\"name\":\"GBP\\\/EUR: Pound Steady At \u20ac1.1950, Brexit Pessimism Could Limit Upside - 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