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

EURGBP Sinks on Monday as Traders Focus on Growth

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


The EURGBP rate saw its worst day in 2021 with the pair sinking below the 0.8600 level. The pair has unwound the election fear bets after the Tories scored big wins in England, while the Scottish referendum fears are being pushed into the distance.

Traders are focusing again on the Bank of England meeting, where a tapering of bond buying was met with a strong growth upgrade to 7.2%. Today will see ZEW economic sentiment from the Eurozone and Germany.

The EUR to GBP rate is trading at 0.8604 on Tuesday and the pound will look to make further gains towards the 0.8500 level.

Netherlands pushes back against vaccine passports

The EU is splintering again after the Netherlands government pushed back on vaccine passports. Spanish Prime Minister Pedro Sanchez and his Greek counterpart Kyriakos Mitsotakis have both been pushing for the certificates to be released by June 21st as the two tourism-reliant countries seek a reopening. But the Dutch Prime Minister Mark Rutte said there should be more discussion on the process. The EU actually had a roadmap for the passports written in 2018 and the virus has been an opportunity to implement them.

Portugal is the only EU country on the list of the UK’s green travel zones and the country would see a boost to its beaten-down tourism sector ahead of other nations.

Trials for the EU passport will begin in the coming weeks with the countries hoping for a scheme to be up and running by the end of June. The app is aimed at restarting free movement within the continent so it will not automatically mean access to European beaches.

The pound sterling has gained ground as the EU stutters towards a reopening and the travel hassles will mean that more of British consumers’ money will stay in the country to avoid PCR tests and social distancing abroad.

EU data will lead this morning

Italian industrial production figures came in lower than expected this morning at -0.1% against expectations of an 0.4% gain. The year-on-year figure was higher at 37.7% versus 37.2%. as the country struggles with the restrictions and case numbers of recent months

The headline numbers today will be the ZEW economic sentiment numbers from the Eurozone and German economies. These numbers have been subdued by the ongoing strict lockdowns but the German economy has been moving closer to a reopening in recent weeks.

A speech from the Bank of England governor Andrew Bailey is also planned this afternoon, but after last week’s monetary policy announcement, Mr Bailey is not likely to give away any further details on the path ahead for the bank’s policy.

The BoE slashed its bond buying programme by £1bn per week as the economy continues to improve, although the bank stressed that the policy outlook remains accommodative, and that inflation is only a “transitory” theme.

The EURGBP has support at 0.8600, while the lows for 2021 were set around the 0.8500 level.

The post EURGBP Sinks on Monday as Traders Focus on Growth appeared first on Euro Rate Forecast.


Source: https://www.eurorateforecast.com/2021/05/eurgbp-sinks-on-monday-as-traders-focus-on-growth/


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.