Euro to Pound (EUR/GBP) Exchange Rate Weekly Roundup December 2014

December 14, 2014 - Written by Tim Boyer

STORY LINK Euro to Pound (EUR/GBP) Exchange Rate Weekly Roundup December 2014

Latest Euro Pound Exchange Rate Analysis, Views and EUR/GBP Report

At the start of the week, the Euro advanced against the Pound due to the release of better than forecast Industrial production data out of Germany, the Eurozone’s largest economy. The data showed that industrial production on the country increased by 0.8% on a year on year basis, a figure that was better than the -0.1% decline recorded in the same month as last month. Economists had been expecting a figure of 0%.

On Tuesday, the single currency continued to make gains as trade data out of Germany came in better than expected. Further gains were restrained however, as a balance of trade report out of France came in below forecasts.

Midweek the Euro gave up gains against the Pound and other major peers after ECB Board member Peter Praet warned that due to falling oil prices, inflation in the Eurozone would likely fall into deflation territory. Also weighing upon the single currency was more disappointing economic data out of France, which showed that industrial production, fell sharply in October.

The Pound firmed slightly against the Euro after a European Central Bank Board warned that falling oil prices could push Eurozone inflation below 0%, raising expectations that the ECB will announce a quantitative easing programme in the New Year.

On Thursday, the Euro firmed against the Pound due to the release of the UK house price data but weakened against other major peers as data out of France showed that consumer prices in the nation fell more than expected in November. France's consumer price index fell 0.2% in November from October and was just 0.3% higher on a yearly basis. Also weighing on the currency is growing concerns over the political situation in Greece.

The Pound softened against most of its major peers after a report released by the Royal Institution of Chartered Surveyors (RICS) showed that house price growth slowed for a six month in November. The house price gauge fell to a reading of 13, the lowest figure since May 2013.

As the week ended, the Euro firmed against the Pound and US Dollar as it received support from better than expected Eurozone industrial production data. The data showed that production across the Eurozone increased by 0.7% in October, beating forecasts for a figure of 0.6% on a year on year basis. Gains were restrained however as on a monthly basis production was worse than expected.

Euro Exchange Rates Today (15/12/14)

The Euro to Australian Dollar exchange rate is -0.91 pct lower with a conversion rate of 1 EUR equals 1.50440 AUD.
The Euro to Canadian Dollar conversion rate is -0.29 pct lower at 1.43734 EUR/CAD.
The Euro to Pound Sterling exchange rate converts -0.12 per cent lower at 1 EUR is 0.79178 GBP.
The Euro to New Zealand Dollar exchange rate is -0.39 pct lower with a conversion rate of 1 EUR equals 1.60084 NZD.
The Euro to US Dollar exchange rate is -0.36 pct lower with a conversion rate of 1 EUR equals 1.24198 USD.

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