Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

GBPEUR Looks to Economic Reopening for Further Gains

% of readers think this story is Fact. Add your two cents.


The GBPEUR exchange rate saw another strong week as the UK moved to the next stage of its reopening plan, whilst France went into another lockdown and European data was flat. Economic data will see the release of unemployment rates for Italy, Spain, and the Eurozone.

The GBP to EUR rate starts the week 20 pips below the recent highs at 1.18 as the pair seeks a push towards the 2020 highs at 1.20.

Travel News Could Dominate

UK Prime Minister Boris Johnson gave the green light for an April 12th opening of gyms, hairdressers etc. in line with the original plan.

Johnson is due to give a travel update today but is dragging his feet again after comments yesterday saw the PM saying that he was “hopeful” for the May 12th travel window. Johnson added:

“But I do not wish to give hostages to fortune, or to underestimate the difficulties we are seeing in some of the destination countries that people might want to go to. We don’t want to see the virus reimported to this country”.

His comments fail to accept that over half of the country are now vaccinated for the virus, with the vulnerable age groups receiving both vaccinations. A travel ‘task force’ will set out what he called a “reasonable” plan on travel abroad this week. A traffic light system is expected for countries depending on their own virus situation, but the PM hinted that there is no imminent change, saying that he would give the airline industry “as much notice” as possible on the resumption of travel.

For the pound versus the euro it is another missed opportunity to make an early start on economic repair in a key sector. The UK government is looking at a plan to use vaccination proofs for entry to large events, with the Prime Minister expected to provide further details on Monday.

Economic Calendar Light for the Week

The economic calendar is light for the week ahead with the highlight being the release of European Central Bank (ECB) meeting minutes on Thursday. After the recent increase in bond buying by the bank, the inflation fears receded and European economic data has been stable.

Tuesday will see the release of employment rates for Italy, Spain, and the Eurozone but these are not expected to move the sterling to euro rate that much.

France and Italy attempted to ramp up their vaccination rates over the weekend, this could boost the euro down the line once the numbers filter through, although Easter holidays affected the rollout in the key countries. The French military was set to open seven vaccination centres from today, while Spain increased its rollout with the arrival of 2 million doses over the last week, which is its biggest delivery so far.

GBPEUR is trading at 1.1780 in early trading and the Prime Minister’s comments will likely set the tone for the day. Get in touch using the form below to discuss these factors in further detail ahead of your currency exchange.

The post GBPEUR Looks to Economic Reopening for Further Gains appeared first on Pound Sterling Forecast.


Source: https://www.poundsterlingforecast.com/2021/04/gbpeur-looks-to-economic-reopening-for-further-gains/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.