Marketwatch EU & UK

Daily Insights
January 4, 2024

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  • The US Dollar consolidated after advancing on Wednesday following the Fed’s minutes for the December meeting suggesting the central bank is in no rush to cut interest rates. Fed policymakers agreed that it is appropriate to keep interest rates at the current levels and that they have likely peaked.
  • The greenback’s recent recovery could be extended as markets may have priced in steep rate cuts too quickly.

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  • The Euro is trading above 1.09 as investors wait for German and French inflation prints that can give fresh clues for Friday’s Euro-Zone CPI. PMIs for Spain, Germany, Italy, and Sweden are also due today.

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  • The Sterling extended gains against the euro yesterday afternoon, rising to the strongest level in two weeks. EUR/GBP dropped 0.5% to 0.8628 and GBP/USD advanced as much as 0.3% to 1.2656. We are currently trading at 0.8620 in EUR/GBP, and at 1.2688 in GBP/USD.

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  • Oil advanced more than 3% on Wednesday as supply disruptions in Lydia and tensions in the middle east are affecting the key crude production region.

Economic Calendar

JPY - Final Manufacturing PMI
CNY - Caixin Services PMI
EUR - German Prelim CPI m/m
EUR - French Prelim CPI m/m
EUR - Spanish Services PMI
EUR - Italian Services PMI
EUR - French Final Services PMI
EUR - German Final Services PMI
EUR - Final Services PMI
GBP - Final Services PMI
GBP - M4 Money Supply m/m
GBP - Mortgage Approvals
GBP - Net Lending to Individuals m/m
EUR - Spanish 10-y Bond Auction
EUR - French 10-y Bond Auction
USD - Challenger Job Cuts y/y
USD - ADP Non-Farm Employment Change
USD - Unemployment Claims
USD - Final Services PMI
USD - Natural Gas Storage
USD - Crude Oil Inventories
JPY - Monetary Base y/y

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.86272 0.8619
gbp/usd 1.26823 1.26569
gbp/aud 1.88324 1.87669
gbp/nzd 2.03089 2.02029
usd/jpy 143.894 142.854
eur/usd 1.09344 1.09159
gbp/jpy 182.268 181.011
eur/cnh 7.83104 7.81359
usd/cnh 7.16803 7.15448
Equities and Commodities
Nasdaq 100 16424.1
DOW 37507.1
S&P 500 4718.92
WTI 73.36
GOLD 2047

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.