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Home > Market Watch > EU & UK News > Tue December 19, 2023

Daily Insights
December 19, 2023

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  • The Yen starts the day lower after the Bank of Japan left monetary policy unchanged, as widely estimated by economists. Forward guidance was not changed, with no mention of rate increases. The focus now shifts to BOJ’s Governor, Kazuo Ueda, press conference for any further clues regarding monetary policy.
  • USD/JPY advanced to trade mid 143-144, after touching 144 earlier in the session.

flag european union 1f1ea 1f1fa

  • The euro continues to trade above 1.09 against the US Dollar as European investors wait for today’s final CPI for November. Headline and core gauges came in below estimates last month, and the same is expected for this final release, adding further evidence that price pressures are continuing to cool with CPI YoY ticking lower to the estimated 2.4%, vs. prior 2.9%.

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  • The sterling continues to trade mid 1.26-1.27, at 1.2660 as focus changes to UK retail data, which can flag a risk of a recession again.
  • The euro hit a two-high against the sterling as traders surf ECB’s rate-cut pushback.

Economic Calendar

19 Dec 2023
:
NZD - ANZ Business Confidence
:
AUD - Monetary Policy Meeting Minutes
:
JPY - Monetary Policy Statement
:
JPY - BOJ Policy Rate
:
JPY - BOJ Press Conference
:
CHF - Trade Balance
:
CNY - Foreign Direct Investment ytd/y
:
EUR - Final Core CPI y/y
:
EUR - Final CPI y/y
:
GBP - 10-y Bond Auction
:
GBP - CBI Industrial Order Expectations
:
GBP - MPC Member Breeden Speaks
:
CAD - CPI m/m
:
CAD - Median CPI y/y
:
CAD - Trimmed CPI y/y
:
CAD - Common CPI y/y
:
CAD - Core CPI m/m
:
CAD - IPPI m/m
:
CAD - RMPI m/m
:
USD - Building Permits
:
USD - Housing Starts
:
USD - FOMC Member Barkin Speaks
:
NZD - GDT Price Index
:
USD - FOMC Member Bostic Speaks
:
NZD - RBNZ Gov Orr Speaks
:
USD - TIC Long-Term Purchases
:
USD - FOMC Member Goolsbee Speaks
:
AUD - MI Leading Index m/m
:
JPY - Trade Balance

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.8635 0.86251
gbp/usd 1.26654 1.26491
gbp/aud 1.88729 1.88159
gbp/nzd 2.03595 2.03017
usd/jpy 144.077 142.245
eur/usd 1.0931 1.09147
gbp/jpy 182.308 180.038
eur/cnh 7.81496 7.7942
usd/cnh 7.15256 7.13728
Equities and Commodities
Nasdaq 100 16742.1
DOW 37352.4
S&P 500 4748.84
BRENT CRUDE 78.03
WTI 72.82
GOLD 2024.4

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

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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.

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