By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: EUR/GBP moves closer to 0.8350 before Eurozone HICP inflation data
Share
Notification Show More
Latest News
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > EUR/GBP moves closer to 0.8350 before Eurozone HICP inflation data
Forex

EUR/GBP moves closer to 0.8350 before Eurozone HICP inflation data

News Room
Last updated: 2024/10/31 at 8:44 AM
News Room
Share
2 Min Read
SHARE

The EUR/GBP pair is experiencing a slight decline despite a shift in sentiment surrounding the European Central Bank (ECB) following strong Eurozone GDP data. Traders are now waiting for the Eurozone Harmonized Index of Consumer Prices (HICP) data on Thursday to gauge the further movement of the currency pair. The UK budget announcement includes £40 billion in tax increases to reduce public finance deficits and increase funding for public services.

EUR/GBP is trading lower near 0.8360 during early European hours, with the Euro potentially finding support from investors who are scaling back expectations of a significant rate cut by the ECB in December. This change in sentiment is a result of better-than-expected economic data from the Eurozone and Germany released recently. The Eurozone GDP expanded by 0.4% quarter-over-quarter in Q3, surpassing expectations, while Germany’s GDP rose by 0.2% QoQ, recovering from a decline in the previous quarter.

In addition to the positive GDP data, Germany’s Consumer Price Index (CPI) showed an annual inflation rate of 2.0% in October, exceeding projections. The EUR/GBP cross also gained support as the Pound Sterling (GBP) weakened due to the UK Labour government’s budget announcement, which includes tax hikes to address public finance gaps. One of the key revenue sources in the budget is an increase in National Insurance contributions.

Traders are keeping an eye on an upcoming keynote address by Bank of England (BoE) Deputy Governor Sarah Breeden at a conference discussing the challenges and opportunities of emerging technologies in the financial ecosystem. This address could provide further insight into the future monetary policy direction of the BoE and impact the GBP. Overall, the EUR/GBP pair is facing some downward pressure despite positive economic data and a less-dovish ECB sentiment. Investors will continue to monitor key economic indicators and developments in the UK and Eurozone to assess the currency pair’s direction in the near term.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room October 31, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Qatar 2023 AFC Asian Cup Makes Historic Achievement by Winning Multiple Awards
Next Article Al Dirazi denies that Northern Governorate is imposing fines for improper waste disposal
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports June 10, 2025
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE May 27, 2025
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle May 23, 2025
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World May 22, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?