Marketwatch EU & UK

Daily Insights
December 8, 2023

flag united states 1f1fa 1f1f8

  • The US Dollar is muted across the board, but still getting under pressure against the Yen. The pair is now holding under 144 after touching 142.34 earlier in the session, as traders continue to bet on a policy tweak by the Bank of Japan this month. The Yen is set to post the largest weekly gain against the greenback since mid-July.
  • In the US, all eyes are on today’s Non-Farm Payrolls data where traders are expecting it will provide fresh evidence of a cooling labour market, which should help the Fed’s case to hold interest rates and potentially cut them in 2024.

flag united kingdom 1f1ec 1f1e7flag european union 1f1ea 1f1fa

  • The euro consolidates under 1.08 against the US Dollar while Cable gets hit, trading below 1.26, at 1.2566 as the market waits for US Jobs date to determine the next direction.

oil drum 1f6e2 fe0f

  • Oil is headed for the worst week of losses since 2018 as concerns increase about a global glut, with markets doubtful that deeper supply cuts by OPEC+ will be effective.

Economic Calendar

JPY - Economy Watchers Sentiment
EUR - German Final CPI m/m
EUR - Italian Bank Holiday
CNY - New Loans
CNY - M2 Money Supply y/y
GBP - Consumer Inflation Expectations
EUR - ECOFIN Meetings
CAD - Capacity Utilization Rate
USD - Average Hourly Earnings m/m
USD - Non-Farm Employment Change
USD - Unemployment Rate
USD - Prelim UoM Consumer Sentiment
USD - Prelim UoM Inflation Expectations

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.85802 0.8564
gbp/usd 1.26014 1.25602
gbp/aud 1.90884 1.90029
gbp/nzd 2.04441 2.03901
usd/jpy 144.395 142.491
eur/usd 1.08007 1.07729
gbp/jpy 181.632 179.536
eur/cnh 7.73315 7.7182
usd/cnh 7.17194 7.14859
Equities and Commodities
Nasdaq 100 15985.7
DOW 36107.8
S&P 500 4580.61
WTI 70.71
GOLD 2029.54

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.