{"id":99747,"date":"2020-05-05T02:00:51","date_gmt":"2020-05-05T06:00:51","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=99747"},"modified":"2020-05-05T03:40:21","modified_gmt":"2020-05-05T07:40:21","slug":"103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\/","title":{"rendered":"GBP\/EUR: Pound Extends Gains Ahead of Service Sector PMI"},"content":{"rendered":"

The Pound<\/a> is advancing on Tuesday, extending gains from the previous session. The Pound Euro<\/a> exchange rate settled on Monday 0.4% higher at \u20ac1.1408, after picking up from an earlier low of\u00a0 \u20ac1.1344.<\/p>\n

At 06:30 UTC, GBP\/EUR<\/a> is trading +0.2% at \u20ac1.1430 as the number of UK daily coronavirus deaths fall and ahead of UK service sector PMI data.<\/p>\n

Check real time GBP to EUR exchange rate<\/span><\/a><\/div>\n

UK Covid-19 Fatalities Fall to 288<\/h2>\n

The Pound is trending higher as the number of daily deaths fall to 288, the lowest level seen since 29th<\/sup> \u00a0March as the UK prepares to ease lock down measures and reopen the UK economy next week, after 6 weeks of paralyses.<\/p>\n

Today investors are looking ahead to UK service sector PMI. Analysts are expecting service sector activity to have plummeted to an all-time low of 12.3 in April on the closely watched IHS\/Markit Purchasing manger index. This is down from 34.5 in March, reflecting the full month of lockdown. The measures put in place to stem the spread of covid-19, caused demand for services to evaporate.<\/p>\n

The government revealed on Monday that a quarter of all employees in Britain, 6.3 million workers, have been furloughed with 800,000 companies claiming \u00a38 billion from the government to pay their wage bills through the coronavirus lockdown. The initiative is due to run until the end of June, although the Chancellor Rishi Sunak advised that there would be no \u201ccliff edge\u201d end.<\/p>\n

Investors will continue digesting headlines surrounding the UK exit plan, with Boris\u2019 exit strategy due this week. US \u2013 UK trade talks are also due to begin today.<\/p>\n

Germany Ease Lockdown Measures Further<\/h2>\n

The Euro slipped lower in the previous session, following data which showed that Eurozone investors remain deeply gloomy. The Sentix Eurozone investor sentiment index came in a t -41.8 in May. This was well below expectations of -33.5, but slightly better than last month\u2019s 42.9, reflecting the breath-taking economic crash that the region has experienced over the past 6 weeks. The gauge has moved tentatively higher as economies start to reopen.<\/p>\n

Today the euro is trading broadly flat versus its peers as Germany easing lock down measures further is supporting the common currency. Large shops will be allowed to reopen from 11th<\/sup> May. Small shops have already reopened.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Pound is advancing on Tuesday, extending gains from the previous session. The Pound Euro exchange rate settled on Monday 0.4% higher at \u20ac1.1408, after picking up from an earlier low of\u00a0 \u20ac1.1344. At 06:30 UTC, GBP\/EUR is trading +0.2% at \u20ac1.1430 as the number of UK daily coronavirus deaths fall and ahead of UK […]<\/p>\n","protected":false},"author":163946597,"featured_media":5970,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1393,1394,2374,1391,2046],"class_list":{"0":"post-99747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-euro","11":"tag-gbp","12":"tag-lockdown","13":"tag-pound","14":"tag-service-sector-pmi"},"acf":[],"yoast_head":"\nGBP\/EUR: Pound Extends Gains Ahead of Service Sector PMI - 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\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\/\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Extends Gains Ahead of Service Sector PMI\",\"datePublished\":\"2020-05-05T06:00:51+00:00\",\"dateModified\":\"2020-05-05T07:40:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\\\/\"},\"wordCount\":401,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2017\\\/08\\\/pounds-brexit.jpg\",\"keywords\":[\"eur\",\"euro\",\"gbp\",\"lockdown\",\"pound\",\"service sector pmi\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103136-gbp-eur-pound-extends-gains-ahead-of-service-sector-pmi\\\/\",\"name\":\"GBP\\\/EUR: Pound Extends Gains Ahead of Service Sector PMI - 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