Marketwatch EU & UK

Daily Insights
April 23, 2024

flag united states 1f1fa 1f1f8

  • The US Dollar is steady across the board as investors wait for a bond auction on 2-, 3- and 7- Year Treasuries. We have GDP prints and key price data coming towards the end of the week which should be crucial for investors as the US Dollar, although well supported, has failed to post further gains against major peers.

flag japan 1f1ef 1f1f5

  • The BOJ is widely expected to leave its benchmark interest rate unchanged this Friday, but traders continue to look out for any dovish comments as the yen is near a 34-year low. Japan’s Finance Minister Suzuki drove the USD/JPY pair lower as it stated that the environment for intervention in the foreign exchange market is in place if needed, driving the pair towards 154.66.

flag european union 1f1ea 1f1faflag united kingdom 1f1ec 1f1e7

  • We are trading in a very narrow range in both EUR/USD and GBP/USD at1.0635-1.0660 and 1.2330-1.2360, respectively. GBP tested the key 1.23 support yesterday following the dovish comments from the BOE’s governor on Friday, but it was widely rejected, driving the pair towards 1.2360.
  • Today is PMIs release day in both regions which could add volatility to trading this morning. Apart from this set of data, a couple of ECB and BOE officials are due to speak.

Economic Calendar

JPY - Flash Manufacturing PMI
JPY - BOJ Core CPI y/y
GBP - Public Sector Net Borrowing
EUR - French Flash Manufacturing PMI
EUR - French Flash Services PMI
EUR - German Flash Manufacturing PMI
EUR - German Flash Services PMI
EUR - Flash Manufacturing PMI
EUR - Flash Services PMI
GBP - MPC Member Haskel Speaks
GBP - Flash Manufacturing PMI
GBP - Flash Services PMI
GBP - MPC Member Pill Speaks
EUR - German Buba President Nagel Speaks
USD - Flash Manufacturing PMI
USD - Flash Services PMI
USD - New Home Sales
USD - Richmond Manufacturing Index
NZD - Trade Balance
JPY - SPPI y/y

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.86306 0.86254
gbp/usd 1.23584 1.23357
gbp/aud 1.91495 1.91109
gbp/nzd 2.08818 2.08418
usd/jpy 154.823 154.655
eur/usd 1.06604 1.06447
gbp/jpy 191.276 190.9
eur/cnh 7.73209 7.7218
usd/cnh 7.25808 7.24767
Equities and Commodities
Nasdaq 100 17205.5
DOW 38258.8
S&P 500 5013.55
WTI 82.19
GOLD 2306.03

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.