Marketwatch EU & UK

Daily Insights
October 10, 2023

  • flag united states 1f1fa 1f1f8The greenback falls against its G-10 peers as Treasuries have the best day since March after two Federal Reserve members made dovish comments regarding the future of monetary policy in the US.
  • Fed official Lorie Logan stated that the recent move in long-term Treasury yields may indicate less need for the Federal Reserve to hike interest rates again. Fed Vice Chair Phillip Jefferson also said that he remains aware of the tightening of financial conditions through higher bond yields in evaluating the future path of the central bank’s policy.
  • flag european union 1f1ea 1f1faThe euro is little changed this morning, trading in a tight range between 1.0550-1.0585 against the US Dollar ahead of Italian Industrial Production and ECB’s Villeroy speech later today.
  • flag united kingdom 1f1ec 1f1e7Sterling-dollar is slightly higher but remains trading mid 1.22-1.23 range as investors wait for the BOE to release minutes of the financial policy meeting. EUR/GBP continues to trade in its 1-month range between 0.86-0.87.
  • flag china 1f1e8 1f1f3China’s onshore and offshore Yuan advanced to their strongest level in a month as investors unwound their dollar positions following dovish comments from two high-profile Fed officials. USD/CNH fell 0.3% to touch 7.2698 and USD/CNY dropped as much as 0.4% to 7.2677, September 15 Low.
  • flag japan 1f1ef 1f1f5The Yen consolidates mid 148-149 against the greenback, after trading near 148 in early Asian session.
  • oil drum 1f6e2 fe0fTensions between Israel and Hamas dropped a dose of volatility into the oil market causing bullish oil options to surge in value. WTI dropped 0.5% to $85.94 and Brent 0.4% to $87.76 this morning.

Economic Calendar

AUD - NAB Business Confidence
JPY - Economy Watchers Sentiment
GBP - FPC Meeting Minutes
GBP - FPC Statement
EUR - Italian Industrial Production m/m
CNY - New Loans
CNY - M2 Money Supply y/y
USD - NFIB Small Business Index
EUR - ECB President Lagarde Speaks
USD - Final Wholesale Inventories m/m
All - IMF Meetings
USD - FOMC Member Waller Speaks
USD - FOMC Member Kashkari Speaks
NZD - Visitor Arrivals m/m

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.86394 0.86312
gbp/usd 1.22567 1.22225
gbp/aud 1.90966 1.90469
gbp/nzd 2.03341 2.02805
usd/jpy 148.866 148.162
eur/usd 1.05834 1.05586
gbp/jpy 182.048 181.539
eur/cnh 7.70953 7.68798
usd/cnh 7.2922 7.26639
Equities and Commodities
Nasdaq 100 15066.3
DOW 33601.5
S&P 500 4337.6
WTI 85.86
GOLD 1858.28

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.