BREAKING: EURGBP ticks higher after UK labor data

8:03 AM 12 November 2024

The EURGBP pair ticks higher after we learned CPI data from Germany for October and data from the UK labor market for October. A much higher-than-expected rise in the UK unemployment rate is raising hopes for faster rate cuts, weakening the pound against the euro.

  • Germany October final CPI +2.0% vs +2.0% y/y prelim
  • UK September ILO unemployment rate 4.3% vs 4.1% expected
 

Source: xStation

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