Daily Insights

January 16, 2024

The US Dollar gains along with Treasury Yields as the US returns from Monday’s holiday after hawkish comments from ECB official, Robert Holzmann, pushed back on bets against early rate cuts and warned that cuts are not guaranteed in 2024 against the fall in inflation and geopolitical risks.
Traders now look forward to Fed’s Governor Christopher Waller speech later today on whether there will be more repel for any possible rate cut in March. The US Dollar Index (DXY) currently trades at 102.96, up +0.68% in the last 5 days, and +1.60% YTD.

Euro is lower this morning currently trading around 1.0920 after ECB hawks took over the show last night, and any dovish comments made by Joachim Nagel were ignored. Germany, Italy, and Ireland inflation reports are due today.

In the UK, wage growth has eased once again at one of the quickest paces on record, but it is still likely to represent a threat to the Bank of England’s inflation goal. UK’s Sep-Nov. average wages without bonus rose to +6.5%, vs. est. +6.8 %. The sterling has lost on the data release, dropping as much as 0.5% against the greenback, currently trading around 1.2680. Euro-Sterling has advanced from yesterday’s low of 0.8587, to touch 0.8620.

Economic Calendar

16 Jan 2024

EUR - German Final CPI m/m

GBP - Claimant Count Change

GBP - Average Earnings Index 3m/y

GBP - Unemployment Rate

CNY - Foreign Direct Investment ytd/y

All - WEF Annual Meetings

EUR - German ZEW Economic Sentiment

EUR - ZEW Economic Sentiment

EUR - ECOFIN Meetings

CAD - Housing Starts

CAD - CPI m/m

CAD - Median CPI y/y

CAD - Trimmed CPI y/y

CAD - Common CPI y/y

CAD - Core CPI m/m

USD - Empire State Manufacturing Index

GBP - BOE Gov Bailey Speaks

NZD - GDT Price Index

USD - FOMC Member Waller Speaks

Market Indicators

Currency Pairs

Pair	High	Low
eur/gbp	0.86186	0.86028
gbp/usd	1.2717	1.26606
gbp/aud	1.91829	1.91173
gbp/nzd	2.05892	2.05267
usd/jpy	146.271	145.584
eur/usd	1.09461	1.09124
gbp/jpy	185.507	184.959
eur/cnh	7.86825	7.8466
usd/cnh	7.19854	7.18378

Equities and Commodities

Nasdaq 100	16750.2
DOW	37452.4
S&P 500	4766.75
BRENT CRUDE	78.24
WTI	72.57
GOLD	2049.56

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.

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Marketwatch EU & UK

Daily Insights

January 16, 2024

Economic Calendar

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About Francisco Mioludo

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Marketwatch EU & UK

Daily Insights January 16, 2024

Economic Calendar

Market Indicators

About Francisco Mioludo

Other Market News

North America News

APAC News

GPS Global Wallet Podcast

Connect with us

Daily Insights

January 16, 2024