Marketwatch EU & UK

Daily Insights
November 23, 2023

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  • Thanksgiving in the US should bring some quiet to the markets today as treasury cash markets will be closed. The greenback is muted after surrendering Wednesday’s gains, with the Euro, Sterling and Yen edging higher.

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  • In the euro-area investors are now waiting for PMIs across Germany, France, and Eurozone Aggregate, which are all estimated to tick higher, but still under 50 (which represents expansion).
  • Last night’s victory of the Dutch elections by the far-right Leader Geert Wilder was a shock result to many, and the winner now prepares to lead the country’s next government. This victory will represent a challenge to the European Union as part of his mandate he promised voters a binding referendum to leave the EU and stands against a range of policies on climate change and immigration.
  • The Euro is trading close to the 1.09 level with the next resistance seen at 1.0960 and the next support near 1.0860.

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  • In the UK, Investors now focus on today’s PMI data for the country after UK Chancellor presented its Autumn Statement on Wednesday. The Chancellor of the Exchequer unveiled cuts to personal and business taxes, with the aim of boosting the country’s growth and to increase his party’s electoral chances.
  • Sterling is also trading quietly, hovering around the 1.25 level. Next resistance seen at 1.2560 and next support at 1.2450.

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To all our US readers, we wish you all a Happy Thanksgiving.

Economic Calendar

JPY - Bank Holiday
EUR - French Flash Manufacturing PMI
EUR - French Flash Services PMI
EUR - German Flash Manufacturing PMI
EUR - German Flash Services PMI
EUR - Flash Manufacturing PMI
EUR - Flash Services PMI
GBP - Flash Manufacturing PMI
GBP - Flash Services PMI
EUR - ECB Monetary Policy Meeting Accounts
USD - Bank Holiday
CAD - Corporate Profits q/q
NZD - Retail Sales q/q
NZD - Core Retail Sales q/q
JPY - National Core CPI y/y

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.87236 0.87152
gbp/usd 1.25166 1.24888
gbp/aud 1.90909 1.90461
gbp/nzd 2.07419 2.06293
usd/jpy 149.459 148.884
eur/usd 1.09175 1.08878
gbp/jpy 186.655 186.284
eur/cnh 7.80416 7.7873
usd/cnh 7.16771 7.13772
Equities and Commodities
Nasdaq 100 16032
DOW 35264.5
S&P 500 4559.92
WTI 76.34
GOLD 1995.48

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.