2015-11-02

Euro to Pound Sterling (EUR/GBP) Exchange Rate Forecast: Mixed Eurozone PMIs fail to Halt Overall Euro Rise Today



The Euro to Pound Sterling (EUR/GBP) exchange rate has declined today, although the common currency has seen rises elsewhere thanks to several positive Manufacturing PMIs coming out of the Eurozone.

Exchange Rate News: EUR/GBP Falls, Euro Gains on AUD, INR as Investor Interest Rises on PMI Results

The Euro (EUR) has been bolstered today by a mostly beneficial result for its many Manufacturing PMI releases for October. Among these have been a rise from 52.7 to 54.1 with Italy’s result, an advance from 51.6 to 52.1 for Germany and a climb from 52 points to 52.3 with the overall Eurozone area. Going against this positive trend has been France’s posting, which fell from 50.7 points to 50.6 when a stagnation had been predicted.

The Euro has declined by -0.2% against the Pound Sterling (EUR/GBP) today, although gains have been recorded of 0.3% against the Australian Dollar (EUR/AUD) and the Indian Rupee (EUR/INR), 0.5% against the Canadian Dollar (EUR/CAD) and 0.6% against the New Zealand Dollar (EUR/NZD).

Pound Sterling Soars in GBP/EUR Pairing and Overall as UK PMI Exceeds Expectations

The Pound Sterling (GBP) has had a superb day so far in terms of economic releases, as the only UK economic publication due out, the Markit PMI for Manufacturing, has risen from 51.5 to 55.5 against predictions of a decline to 51.3 points.

In the wake of such supportive news, the Pound Sterling has seen advances of 0.3% against the Euro (GBP/EUR), 0.7% against the Chinese Yuan (GBP/CNY) and the Indian Rupee (GBP/INR), 0.8% against the Singapore Dollar (GBP/SGD) and over 1% against the Hungarian Forint (GBP/HUF) and the New Zealand Dollar (GBP/NZD). Sterling’s greatest loss has been by -3.25% against the Turkish Lira (GBP/TRY), which has rallied lately on the news that the AKP party has won the second Turkish election of this year with almost 50% of the vote; this has been viewed by investors as a sign that the nation and its currency will be subject to greater stability in the future.

Exchange Rate Forecast: Irish Confidence and French Auctions to Provide Remaining EUR/GBP Movement Today

With most of the major Eurozone and UK economic releases come and gone today, the only remaining announcements that are due from the former area are the Irish Consumer Confidence figure for October and the French BTF Auctions covering 3, 6 and 12 months.

Ireland’s Confidence score is forecast to decline, with a drop from 100.6 to 100.1 on the cards. Later on, France’s BTF Auctions have no predictions assigned to them, although the previous results in all three categories were negative and fell by -0.251%.

Current EUR, GBP Exchange Rates

The Euro to Pound Sterling (EUR/GBP) exchange rate was trending in the region of 0.7136 and the Pound Sterling to Euro (GBP/EUR) exchange rate was trending in the region of 1.4014 today.

Euro Exchange Rate News

Show more