Marketwatch EU & UK

Daily Insights
October 27, 2023

flag united states 1f1fa 1f1f8

  • We got to Friday and the US dollar seems to have taken a break from the gains and retraced some of its recent move against major peers ahead of key economic data due today. US PCE Deflator, personal spending and income and, University of Michigan Consumer sentiment data can add more certainty for the Fed to pause next week.
  • GDP released yesterday at 4.9%, vs. 4.5% estimates showed that the US economy is “healthy”, according to Fed’s Yellen. This boom in growth was generated by seasonal factors and it should be set to reverse in 4Q.

 flag european union 1f1ea 1f1fa

  • It is a quiet day on the euro front – after the big jump on US GDP on Thursday and the ECB leaving its rates unchanged, one would have expected for the pair to be sold, but it did not happen. We’re slightly higher today but it’s a dollar story, again, while investors wait for key US data. We are currently trading just below 1.0560.

 flag united kingdom 1f1ec 1f1e7

  • Sterling keeps trading on the bearish channel that started in July, where we peaked at 1.3141. 1.20 looks like the immediate psychological support for Cable followed by the key 1.18. BOE’s meeting will be on the 2 Nov. where we expect a hold in rates.

 flag japan 1f1ef 1f1f5

  • Dollar-Yen remains above 150 as consumer prices in Japan jumped to 3.3% YoY, vs. 2.8% estimates.

Economic Calendar

AUD - PPI q/q
NZD - RBNZ Statement of Intent
EUR - Spanish Flash GDP q/q
EUR - Euro Summit
USD - Core PCE Price Index m/m
USD - Personal Income m/m
USD - Personal Spending m/m
USD - FOMC Member Barr Speaks
USD - Revised UoM Consumer Sentiment
USD - Revised UoM Inflation Expectations

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.87092 0.87031
gbp/usd 1.21415 1.21223
gbp/aud 1.91676 1.91038
gbp/nzd 2.08544 2.08093
usd/jpy 150.411 150.08
eur/usd 1.05698 1.05523
gbp/jpy 182.497 182.049
eur/cnh 7.7365 7.7226
usd/cnh 7.32526 7.31366
Equities and Commodities
Nasdaq 100 14238.8
DOW 32875.2
S&P 500 4162.88
WTI 84.72
GOLD 1988.13

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.