The Euro to Pound Sterling (EUR/GBP) exchange rate has made little movement so far today, although this current state may shift imminently after some Eurozone economic releases. Today’s exchange rate movement is largely a flat contrast to yesterday’s notable currency shifts on both sides.
EUR/GBP Exchange Rate News: Common Currency Softened Today by Disappointing Data Release
The Euro (EUR) has effectively levelled out against the Pound Sterling (EUR/GBP) today but has made more noticeable movement in a number of other pairings. This includes 0.3% against the Canadian Dollar (EUR/CAD), 0.4% against the Polish Zloty (EUR/PLN) and 0.5% against the South African Rand (EUR/ZAR). Against most other peers, the single currency has either flopped or made no progress.
The only Eurozone data to speak of so far today has been the seasonally adjusted M3 annual Monetary Supply for November, which has fallen from 5.3% to 5.1%.
Pound Sterling (GBP) Making Little Overall Movement Today as UK House Prices Rise
The Pound Sterling (GBP) has made little progress against the Euro (GBP/EUR) today and has largely repeated this showing against a majority of its peers. Among the gains have been 0.3% against the Chinese Yuan (GBP/CNY), 0.4% against the Norwegian Krone (GBP/NOK) and 1.5% against the volatile Russian Ruble (GBP/RUB).
The only UK data to speak of has been the Nationwide House Prices for December, which have risen above expectations both on the month and the year.
EUR/GBP Exchange Rate Forecast: Slim Pickings for Eurozone and UK Economic Releases in Near Future
The last two days of the current year are set to be marked in economic terms by their sheer scarcity of economic releases that are likely to have an effect on the Euro to Pound Sterling (EUR/GBP) exchange rate. At the time of writing, the only releases that fell in this small field were Eurozone-based and from nations that are generally eclipsed by larger contributors to the currency bloc, such as Spain and Germany.
In the near-future, Portugal’s Industrial Production and Retail Sales figures for November will be released; at the time of writing, these had been forecast for a deterioration on the month in both fields, a fall for annual Retail Sales and a rise from 4.2% to 5.83% for yearly Industrial Production.
At the same time, Latvia’s Retail Sales results for November will be announced; current forecasts have been for a decline both on the month and on the year.
Tomorrow, the Euro (EUR) may see movement from the Greek annual October Retail Sales, which were forecast to fall from -3.2% to -3.36% at the time of writing.
Current EUR, GBP Exchange Rates
The Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7374 and the Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.3562 today.
