EUR/GBP weakens after UK jobs data and softer Eurozone PMI
The post EUR/GBP weakens after UK jobs data and softer Eurozone PMI appeared on BitcoinEthereumNews.com.
The Euro (EUR) weakens against the British Pound (GBP) on Tuesday, as Sterling outperforms most major peers following the release of UK labour market data. At the time of writing, EUR/GBP trades around 0.8763, down nearly 0.25% on the day, snapping a three-day winning streak. Data from the UK Office for National Statistics (ONS) showed that labour-market conditions continued to ease in October, even as wage growth remained firm. Average Earnings Excluding Bonuses rose 4.6% in the three months to October, slightly below the previous 4.7% but above expectations of 4.5%, while Average Earnings Including Bonuses increased 4.7%, easing from 4.9% and beating forecasts of 4.4%. At the same time, employment fell by 17,000, following a 22,000 decline previously, while the ILO Unemployment Rate edged up to 5.1% from 5.0%, in line with expectations. The Claimant Count rose by 20,100 in November, below forecasts of 22,300, and the Claimant Count Rate ticked higher to 4.4% from 4.3%, reinforcing signs of gradual labour-market cooling. The data did little to derail expectations that the Bank of England (BoE) will lower interest rates at its meeting on Thursday, with markets widely anticipating a 25 basis point cut. Further underpinning the Pound, UK business activity showed signs of improvement in December, according to the latest S&P Global Flash Purchasing Managers Index (PMI) survey. The Composite PMI Output Index rose to 52.1 from 51.2, a two-month high, with both services activity and manufacturing output accelerating. The Services PMI increased to 52.1, while the Manufacturing PMI climbed to 51.2, its highest level in 15 months. On the Euro side, softer Eurozone activity data added further pressure to the single currency. The latest HCOB Flash Eurozone Composite PMI Output Index eased to 51.9 in December from 52.8 in November, marking a three-month low. The slowdown was driven…
Filed under: News - @ December 16, 2025 2:27 pm