Marketwatch EU & UK

Daily Insights
February 16, 2024

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  • The US Dollar advanced overnight following Fed’s Raphael Bostic, a voting member on the Fed- Policy setting committee this year, signalling there is no rush to cut interest rates with the labour market and the economy still resilient. Bostic also added that it could take some time for the central bank to be sure that the inflation is heading consistently towards its 2% target.
  • The US Dollar Index (DXY) currently trades at 104.30, after trading as low as 104.20 yesterday evening.

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  • Sterling pared most of its overnight losses against the greenback, currently testing the 1.26 handle, after UK retail sales came in higher than estimated by economists. UK January Retail sales inc. fuel rose 3.4% MoM, vs. est. 1.5%. In general, this week was filled with a lot of mixed data, on one hand we had a UK recession making headlines and on the other, a steady CPI but higher wages and retail sales.

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  • EUR/USD continues to grind higher this morning currently at 1.0760, after we touched 1.0780 and then retraced yesterday following a sizeable drop in US retail sales ( -0.8% in January, vs. est. -0.2%).

Economic Calendar

USD - FOMC Member Bostic Speaks
CNY - Bank Holiday
JPY - Tertiary Industry Activity m/m
EUR - German WPI m/m
GBP - Retail Sales m/m
CNY - Foreign Direct Investment ytd/y
EUR - French Final CPI m/m
CAD - Foreign Securities Purchases
CAD - Wholesale Sales m/m
USD - Core PPI m/m
USD - PPI m/m
USD - Building Permits
USD - Housing Starts
USD - FOMC Member Barr Speaks
USD - Prelim UoM Consumer Sentiment
USD - Prelim UoM Inflation Expectations
USD - FOMC Member Daly Speaks
GBP - MPC Member Pill Speaks

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.85565 0.85362
gbp/usd 1.26061 1.25769
gbp/aud 1.93345 1.92897
gbp/nzd 2.06688 2.0614
usd/jpy 150.365 149.923
eur/usd 1.07737 1.07573
gbp/jpy 189.33 188.854
eur/cnh 7.77603 7.7624
usd/cnh 7.2222 7.21554
Equities and Commodities
Nasdaq 100 17889.2
DOW 38704
S&P 500 5030.49
WTI 78.02
GOLD 2004.27

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.

About Francisco Mioludo


Francisco Mioludo is a trader for GPS Capital Markets at the London office. Before joining GPS, Francisco worked in Market Risk at a commodity trading firm in London where he gained valuable skills for his current role. Francisco looks after our EU and UK sales team with everything from analysis to structuring and pricing.