- The US dollar advances for the fifth consecutive day as US yields edge higher on hawkish comments by Fed’s President Neel Kashari, where he stated that the Federal Reserve needs to raise interest rates again this year and keep the economy in a tight policy regime for longer.
- USD/JPY trades over 149, with the Yen weakening past this level for the first time since November.
- EUR/USD continues to drift lower, holding below 1.06. Next key support seen at 1.05.
- GBP/USD is 0.30% lower, after breaking some support at 1.22, currently sits around 1.217. Next big support seen at 1.18.
- EUR/GBP made its way to key resistance of 0.87, but it has failed to break this level multiple times.
- WTI Crude is down 0.2% to trade around $89.52/bbl.
- US Treasuries continue to decline, leading 10-year and 30-year yields to new multiyear highs, as expectation that the Federal Reserve will maintain a higher for longer interest rate policy and the issuance of new bonds will keep increasing as the US government struggles with mounting deficits.
- Soaring demand for Gold in China is the ultimate sign of “economic anxiety”. Combining a weak yuan, a crashing housing market and capital controls not allowing money to leave the country, investors have turned to gold.
Marketwatch EU & UK
Daily insights into the latest global market news
Daily Insights
September 26, 2023
Economic Calendar
26 Sep 2023
5:00am:
JPY - BOJ Core CPI y/y
10:33am:
GBP - 10-y Bond Auction
1:00pm:
CNY - CB Leading Index m/m
1:00pm:
USD - S&P/CS Composite-20 HPI y/y
1:00pm:
USD - HPI m/m
2:00pm:
USD - CB Consumer Confidence
2:00pm:
USD - New Home Sales
2:00pm:
USD - Richmond Manufacturing Index
5:30pm:
USD - FOMC Member Bowman Speaks
11:50pm:
JPY - Monetary Policy Meeting Minutes
Market Indicators
Currency Pairs
| Pair | High | Low |
| eur/gbp | 0.86849 | 0.8668 |
| gbp/usd | 1.22147 | 1.21873 |
| gbp/aud | 1.90331 | 1.89813 |
| gbp/nzd | 2.04759 | 2.04311 |
| usd/jpy | 149.045 | 148.704 |
| eur/usd | 1.05929 | 1.05783 |
| gbp/jpy | 181.805 | 181.524 |
| eur/cnh | 7.7461 | 7.7309 |
| usd/cnh | 7.31589 | 7.303 |
Equities and Commodities
| Nasdaq 100 | 14688.9 |
| DOW | 33875.5 |
| S&P 500 | 4319.17 |
| BRENT CRUDE | 92.6 |
| WTI | 89.2 |
| GOLD | 1913.03 |
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.
