- British sterling pound is stabilized after positive retail sales data.
- The euro pauses while the markets digest Trump’s 50% tariff proposal on EU imports.
- EUR/GBP rises from a minimum of seven weeks while investors closely monitor developments in the main economies.
The euro (EUR) is being negotiated in a narrow range against the British pound (GBP) after the positive retail data of the United Kingdom on Friday and a resurgence of uncertainty about tariffs that contributed to the feeling of global risk.
With the EUR/GBP consolidating around the critical level of 0.84 at the time of writing, investors are closely monitoring developments in commercial tensions between the EU and the US, which will probably influence the broader economic perspectives.
Retail sales of the United Kingdom surprise upwards, with German GDP overshadowed by the threat of Trump tariffs to the EU
For the United Kingdom, positive retail sales data were published on Friday, reflecting an increase in consumer spending in April. The National Statistics Office (ONS) reported that retail sales increased 1.2% in intermensual terms, exceeding 0.2% estimates and well above 0.1% reviewed downward reported in March.
The robust data increases the prospects for the Bank of England (BOE) to maintain stable interest rates in June, allowing the Central Bank to focus on high inflation levels reported on Thursday.
For the EU, the recent economic data helped boost the demand of the euro against their peers this week. On Friday, the Gross Domestic Product (GDP) of Germany surprised upwards, with the largest economy in Europe growing 0.4% in the quarter and 0% in annual terms. Analysts had anticipated a 0.2% increase in the first quarter, with the economy waiting for a 0.2% year -on -year.
However, the profits were limited by the publication of the US president in Truth Social on Friday morning that revealed the increase in commercial tensions. Trump proposed a 50% tariff on EU imports as of June 1 due to its frustration with commercial negotiations.
As the EU and the United Kingdom expect more economic data publications that can continue to promote interest rates and growth projections, EUR/GBP can continue to consolidate in the short term.
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the strongest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.64% | -0.72% | -0.94% | -0.87% | -1.14% | -1.36% | -0.95% | |
| EUR | 0.64% | -0.08% | -0.28% | -0.23% | -0.48% | -0.70% | -0.29% | |
| GBP | 0.72% | 0.08% | -0.19% | -0.15% | -0.37% | -0.63% | -0.21% | |
| JPY | 0.94% | 0.28% | 0.19% | 0.07% | -0.21% | -0.42% | -0.01% | |
| CAD | 0.87% | 0.23% | 0.15% | -0.07% | -0.28% | -0.48% | -0.07% | |
| Aud | 1.14% | 0.48% | 0.37% | 0.21% | 0.28% | -0.21% | 0.20% | |
| NZD | 1.36% | 0.70% | 0.63% | 0.42% | 0.48% | 0.21% | 0.41% | |
| CHF | 0.95% | 0.29% | 0.21% | 0.00% | 0.07% | -0.20% | -0.41% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
