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:

GBP EUR Pulls Back from 1.2000 Test Before Data

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


The GBP EUR exchange rate was lower on Tuesday after making a surge towards the 1.2000 level. That was the high from 2020 and the pound sterling is being held back as traders await inflation data out of Germany. Figures from France and Ireland this week have seen price pressures stall and that may be the case for Europe’s largest economy.

The GBP to EUR is trading at 1.1962 after giving up some of yesterdays’ gains.

PM Johnson says the country can ride out the virus without curbs

The pound sterling was boosted by comments from Prime Minister Boris Johnson who said the country can ride out the Omicron variant without further restrictions.

However, the Prime Minister said that the NHS was moving to a “war footing” and acknowledged the health service was under “huge pressure” as cases surge.

England’s worst-hit NHS trust saw the patient numbers up by 277% in a month due to the Omicron variant. Latest figures also showed that the 20 worst-affected trusts saw a rise in patients being treated for the virus in the month to December 28.

Despite this, governments are tinkering with the rules and Scotland has seen its isolation period cut from 10 days to 7. These types of rule changes can help to keep the economy moving as cases are surging but the variant has shown to be mild and many are being asked to avoid testing if they have no symptoms.

The UK economy has no major economic data this week and is hinging on the path of government restrictions.

Irish inflation holds steady at 3.9%, house prices gain 10% on year

German inflation figures will be the big economic number today and Ireland saw its inflation rate stay steady at 3.9%.

Higher German numbers would pressure the ECB but the French number was also flat this week and virus restrictions may be adding a deflationary effect.

Ireland’s service sector growth was seen to have eased sharply in December, according to survey data from IHS Markit on Wednesday. The AIB Ireland services Purchasing Managers’ Index dropped to 55.4 in December from 59.3 in November. The figures marked the country’s weakest performance since March.

Other data saw a 9.7% increase in asking prices for residential properties in 2021, alongside a record low of 11,300 homes listed for sale on MyHome.ie. In Dublin, the rate of asking-price inflation was up by 7.4%, and by 10.6% elsewhere in the country.

“The unwelcome message from this quarter’s MyHome report is that there is little sign of conditions easing,” said Conall MacCoille, Chief Economist at Davy and the author of the report.

“Prices also rose by an uncharacteristically sharp 1.2% in Q4 during the normally quiet winter months,” he said, adding that this is reflective of the “market grinding tighter, with the stock of homes listed for sale having fallen to a fresh historic low”.

The UK also saw house prices gain by 10% on the year, but the market is expected to cool in 2022.

Powered by Lumon

The post GBP EUR Pulls Back from 1.2000 Test Before Data appeared first on Pound Sterling Forecast.



Source: https://www.poundsterlingforecast.com/2022/01/gbp-eur-pulls-back-from-1-2000-test-before-data/


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.