8:03 AM · 12 November 2024

BREAKING: EURGBP ticks higher after UK labor data

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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