Marketwatch EU & UK

Daily Insights
January 30, 2024

flag european union 1f1ea 1f1fa

  • Investors wait for today’s Eurozone and its main members fourth quarter growth data to better understand the economic strength of the region (Euro-area GDP is expected to have stagnated slightly). The euro trades in a narrow range ahead of the data, currently at 1.0814, bouncing back from yesterday’s low of 1.08. Eurozone economic, industrial and services confidence surveys are also due today, as well as Spain CPI.

flag united kingdom 1f1ec 1f1e7

  • Sterling is lower this morning and continues to trade in the 1.26-1.28 range. Inflation in UK stores dropped to the lowest in 18 months, according to the British Retail Consortium, signaling that the inflation crisis is starting to crack. Prices rose by 2.9% YoY in January, compared to the annual increase of 4.3% in December. EUR/GBP continues to head lower, breaking through 0.8550 with ease. The pair is now heading towards the key support level at 0.8500.

oil drum 1f6e2 fe0f

  • Oil edges higher as Saudi Arabia announced that it will not raise production capacity. This announcement comes at a time when the market is currently waiting for any US response after the attack in Jordan over the weekend, which could escalate tensions in the region.

Economic Calendar

GBP - BRC Shop Price Index y/y
AUD - Retail Sales m/m
EUR - French Consumer Spending m/m
EUR - French Flash GDP q/q
CHF - Trade Balance
CHF - KOF Economic Barometer
EUR - Spanish Flash CPI y/y
EUR - Spanish Flash GDP q/q
EUR - Italian Prelim GDP q/q
EUR - German Prelim GDP q/q
GBP - M4 Money Supply m/m
GBP - Mortgage Approvals
GBP - Net Lending to Individuals m/m
EUR - Prelim Flash GDP q/q
EUR - Italian 10-y Bond Auction
USD - S&P/CS Composite-20 HPI y/y
USD - HPI m/m
USD - CB Consumer Confidence
USD - JOLTS Job Openings
EUR - German Buba President Nagel Speaks
JPY - BOJ Summary of Opinions
JPY - Prelim Industrial Production m/m
JPY - Retail Sales y/y

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.85258 0.85167
gbp/usd 1.27211 1.26882
gbp/aud 1.9235 1.9193
gbp/nzd 2.07295 2.06596
usd/jpy 147.487 147.192
eur/usd 1.08421 1.08119
gbp/jpy 187.509 186.955
eur/cnh 7.78832 7.7664
usd/cnh 7.18927 7.17929
Equities and Commodities
Nasdaq 100 17588.7
DOW 38281.6
S&P 500 4925.36
WTI 76.99
GOLD 2034.4

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.