The Euro to Pound Sterling (EUR/GBP) and Euro to US Dollar (EUR/USD) exchange rates have both risen today, thanks to some ultimately supportive figures coming from the morning’s Eurozone ecostats.
EUR/GBP, EUR/USD Exchange Rate News: Euro Rises along with Retail PMIs
The Euro (EUR) has made a number of stable gains against its competitors today, including a small advance against the US Dollar (EUR/USD) and 0.4% against the Canadian Dollar (EUR/CAD) and the Pound Sterling (EUR/GBP).
Although, like yesterday’s Eurozone data, today’s results have been mixed, the single currency has risen on an ultimately prevailing sense of optimism from investors. Germany and the Eurozone’s retail PMIs for February have risen out of the contraction zone, posting respective advances of 52.5 and 50.1.
Elsewhere, German construction in the same month rose, while Italy’s retail PMI almost breached the contraction barrier with a score of 49.4.
Pound Sterling (GBP) Slides Today while US Dollar (USD) Gives more Mixed Performance
The Pound (GBP) has lost out overall today, with sizable declines being recorded against a majority of Sterling’s major peers. Among these have been losses of -0.5% against the Euro (GBP/EUR), -0.3% against the US Dollar (GBP/USD) and -0.7% against the New Zealand Dollar (GBP/NZD) and the Singapore Dollar (GBP/SGD).
The Pound appears to be suffering under the combined weight of three consecutive negative PMI results, which were spread from Tuesday to Thursday.
The US Dollar (USD) has been making an indecisive display so far today, with losses including -0.2% against the Euro (USD/EUR) and -0.3% against the Australian Dollar (USD/AUD); gains have been made up of 0.3% against Pound Sterling (USD/GBP) and 0.4% against the South African Rand (GBP/ZAR).
The ‘Buck’ is potentially trending narrowly today due to investor uncertainty regarding the afternoon’s highly impactful unemployment rate and change in non-farm payrolls figures.
EUR, GBP, USD Exchange Rate Forecast: Focus on USD set to Dominate Movement
With all of the notable Eurozone and UK economic announcements now out, it only remains for further exchange rate movement to be caused by this afternoon’s highly impactful US February unemployment rate and change in non-farm payrolls outcomes. Present predictions are for stagnation at 4.9% for the former field and a difference between a former 151k and forecast 195k being seen for the latter.
Current EUR, GBP, USD Exchange Rates
The Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7762, the Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.2884, the Euro to US Dollar (EUR/USD) exchange rate was trending in the region of 1.0964, the US Dollar to Euro (USD/EUR) exchange rate was trending in the region of 0.9124, the Pound Sterling to US Dollar (GBP/USD) exchange rate was trending in the region of 1.4131 and the US Dollar to Pound Sterling (USD/GBP) exchange rate was trending in the region of 0.7080 today.