EUR/GBP slides to 0.8550 despite downbeat UK employment, unimpressive German inflation data – by anilpanchal7 EURGBP Employment Inflation RiskAppetite BOE
Final German inflation figures for June contrast with firmer British employment data to weigh on price.
That said, the UK Claimant Count Change jumps by 25.7K for June versus -22.5K prior whereas the ILO Unemployment Rate rallies to 4.0% for three months to May compared to market expectations of witnessing no change in 3.8% prior figure. and the Harmonized Index of Consumer Prices measures match the initial forecasts of 6.4% and 6.8% respectively YoY figures.
On the other hand, the Eurozone Sentix Investor Confidence declined to -22.5 for July from -17 in June. Adding to the pessimism were comments from Sentix managing director Manfred Huebner who said, “There is also nothing positive to report in terms of forward-looking expectations.” Sentix’s Huebner also mentioned that the Investor Confidence Index for Germany fell 7.3 points to -28.4.
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