The Pound is mixed against the Euro after trading softer earlier in the session following the release of Eurozone consumer price inflation data which came in below expectations.
According to the Eurostat report Consumer Price Inflation in the Eurozone increased by a seasonally adjusted 0.8% in December, down from Novembers 0.9% figure. Economists had expected an unchanged reading. The inflation rate slipped further away from the European Central Bank’s inflation target of just below 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.7% in December, slowing from 0.9% in November and below forecasts for an increase of 0.8%.
The GBP/EUR pairing is see-sawing from gains to losses as the market digested the news. Both currencies saw beneficial data released earlier in the session causing both to receive support.
Data released earlier in the session showed that German retail sales increased more than expected in November. In a report by Destatis, retail sales climbed by a seasonally adjusted 1.5% in November, beating expectations for a rise of 0.6%. The figure showed a reversal from the decline of 0.8% in October.
Adding further support to the Euro was the publication of a report which showed that unemployment in Germany fell by a seasonally adjusted figure of 15,000 to bring the total to 2.965 million. The figure smashed economist forecasts which had been expecting a decline of just 1,000. Despite the decline the overall unemployment remained steady at 6.9%.
The currency pair is likely to remain mixed until this afternoon when data reports from the USA could create volatility.
Current Euro (EUR) Exchange Rates
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The Euro/US Dollar Exchange Rate is currently in the region of: 1.3628 –
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8308 >
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5285 >
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6457 >
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7336 >
The Pound Sterling /Euro Exchange Rate is currently in the region of: 1.2030 <
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6540 <
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.6075 <
(Correct as of 10:35 am GMT)
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