Pound v Euro exchange: GBP/EUR rallies on back of better-than-expected Eurozone figures

Despite this, German factory orders showed a higher-than-expected fall from 0.3 percent to -1.0 percent in November compared to the previous month.

The Eurozone as a whole saw better-than-expected retail sales figures, with November remaining on par with the previous month.

In the UK, December’s new car sales figures did little to help the pound, with sales contracting further to -5.5 percent – the second year of falling car sales. 

On Friday, the UK’s December Markit services PMI showed a better than expected rise although it was reported that business confidence was at its second lowest since 2009, with job creation easing to a 29-month low. 

Tomorrow morning will see the release of the UK Halifax house prices for November, with the forecast suggesting that it will rise from a previous 0.3 percent to 1.0 percent, which could boost the pound against the euro. 

December’s Business climate figures are also set to be released for the Eurozone tomorrow, which could cause movement within the euro, as if this figure is to increase the euro could rise. 

It also seems that with parliament returning from their recess, the focus is likely to shift back to Brexit, as negotiations are going to continue, although the date of “meaningful vote” still remains unknown. 

source: express.co.uk