Marketwatch EU & UK

Daily Insights
May 24, 2024

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  • UK consumer confidence increased for the second consecutive month, with the Gfk gauge advancing to -17. Retail Sales excluding fuel, however, dropped sharply by 2% MoM and 3% YoY. GBP/USD trades just below 1.27 level.
  • The pound got a boost last few days following inflation data and traders giving up their bets for an immediate cut by the Bank of England next month. The currency is poised for its best month yet since November against major peers as costs of borrowing remain high for longer to contain inflation.

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  • Stocks across the world tracked Wall Street lower as expectations the Fed will likely stay on hold for the most part of the year build up. Raphael Bostic also came out stating the central bank needs to be patient before changing its policy.
  • The US Dollar Index holds above 105 as investors now wait for today’s US data including durable good orders and U. Michigan consumer sentiment after a strong set of PMI data released yesterday showed that US business activity accelerated earlier this month at the fastest pace in two years.

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  • The Euro continues to hold above 1.08 against the greenback following German activity data reaching one year-high yesterday and Germany’s GDP increasing by 0.2% in the first quarter.

Economic Calendar

EUR - German Final GDP q/q
GBP - Retail Sales m/m
CHF - SNB Chairman Jordan Speaks
All - G7 Meetings
CNY - Foreign Direct Investment ytd/y
EUR - German Buba President Nagel Speaks
CAD - Core Retail Sales m/m
CAD - Retail Sales m/m
CAD - Corporate Profits q/q
USD - Core Durable Goods Orders m/m
USD - Durable Goods Orders m/m
USD - FOMC Member Waller Speaks
USD - Revised UoM Consumer Sentiment
USD - Revised UoM Inflation Expectations

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.85273 0.85151
gbp/usd 1.26979 1.26691
gbp/aud 1.92492 1.91954
gbp/nzd 2.08474 2.07826
usd/jpy 157.144 156.928
eur/usd 1.08054 6
gbp/jpy 199.44 198.938
eur/cnh 7.84846 7.8397
usd/cnh 7.26011 7.25484
Equities and Commodities
Nasdaq 100 18633.5
DOW 39042.9
S&P 500 5272.49
WTI 76.92
GOLD 2337.65

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.