EUR/GBP steadies as markets weigh Eurozone growth and UK Retail Sales
The post EUR/GBP steadies as markets weigh Eurozone growth and UK Retail Sales appeared on BitcoinEthereumNews.com. EUR/GBP holds steady above 0.8670, as markets weigh subdued Eurozone Q2 growth and the UK’s mixed Retail Sales data. Eurozone Q2 GDP expanded 0.1% QoQ and 1.5% YoY, confirming sluggish growth, while employment rose 0.1% QoQ and 0.6% YoY. UK Retail Sales rose 0.6% in July, but annual growth slowed to 1.1% with prior figures revised lower. The Euro (EUR) edges higher against the British Pound (GBP) on Friday, with EUR/GBP trading around 0.8680 during the European session. The cross is stabilizing after two straight days of losses as markets digest a mixed set of UK Retail Sales and lingering fiscal concerns, alongside subdued Eurozone growth figures. Eurostat’s final Q2 release confirmed that the Eurozone economy is expanding at only a modest pace. Gross Domestic Product (GDP) rose 0.1% QoQ, exactly as expected and unchanged from the earlier estimate, while annual growth picked up slightly to 1.5% from 1.4%. Employment rose by 0.1% in the second quarter, in line with estimates, while annual job growth slowed to 0.6% from 0.7%. The slowdown follows a Q1 boost from tariff front-loading, while persistent uncertainty around US trade measures has encouraged businesses and households to adopt a more cautious stance. In the UK, July Retail Sales delivered a mixed performance. Headline sales rose 0.6% MoM, beating the 0.2% consensus, though the previous figure was revised sharply lower to 0.3% from 0.9%. On an annual basis, sales increased 1.1%, undershooting expectations of 1.3% and down from a revised 0.9% previously. Excluding fuel, sales rose 0.5% MoM, just above the 0.4% forecast but below the 0.6% prior, while annual growth held at 1.3%, slightly softer than the 1.8% earlier estimate. The details highlight resilient short-term spending but also reveal downward revisions that temper optimism, keeping the outlook for household demand subdued. Sterling has managed to…
The post EUR/GBP steadies as markets weigh Eurozone growth and UK Retail Sales appeared on BitcoinEthereumNews.com.
EUR/GBP holds steady above 0.8670, as markets weigh subdued Eurozone Q2 growth and the UK’s mixed Retail Sales data. Eurozone Q2 GDP expanded 0.1% QoQ and 1.5% YoY, confirming sluggish growth, while employment rose 0.1% QoQ and 0.6% YoY. UK Retail Sales rose 0.6% in July, but annual growth slowed to 1.1% with prior figures revised lower. The Euro (EUR) edges higher against the British Pound (GBP) on Friday, with EUR/GBP trading around 0.8680 during the European session. The cross is stabilizing after two straight days of losses as markets digest a mixed set of UK Retail Sales and lingering fiscal concerns, alongside subdued Eurozone growth figures. Eurostat’s final Q2 release confirmed that the Eurozone economy is expanding at only a modest pace. Gross Domestic Product (GDP) rose 0.1% QoQ, exactly as expected and unchanged from the earlier estimate, while annual growth picked up slightly to 1.5% from 1.4%. Employment rose by 0.1% in the second quarter, in line with estimates, while annual job growth slowed to 0.6% from 0.7%. The slowdown follows a Q1 boost from tariff front-loading, while persistent uncertainty around US trade measures has encouraged businesses and households to adopt a more cautious stance. In the UK, July Retail Sales delivered a mixed performance. Headline sales rose 0.6% MoM, beating the 0.2% consensus, though the previous figure was revised sharply lower to 0.3% from 0.9%. On an annual basis, sales increased 1.1%, undershooting expectations of 1.3% and down from a revised 0.9% previously. Excluding fuel, sales rose 0.5% MoM, just above the 0.4% forecast but below the 0.6% prior, while annual growth held at 1.3%, slightly softer than the 1.8% earlier estimate. The details highlight resilient short-term spending but also reveal downward revisions that temper optimism, keeping the outlook for household demand subdued. Sterling has managed to…
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