Marketwatch EU & UK

Daily Insights
October 25, 2023

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  • The greenback is muted this morning after rallying yesterday against major peers following US PMI figures beating estimates. For whoever thought the Federal Reserve was done with their campaign, this can be a clear sign that they can still do more if needed.
  • All eyes will be on Fed Chair Jerome Powell’s speech later today in Washington, DC and on the GDP data tomorrow, which is set to post an advance. MBA Mortgage Applications and New Home Sales data out today.

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  • UK PMIs released Tuesday missed expectations and as a result the sterling turned to red, especially as the US posted some better-than-expected data, and its economy continues to develop whereas the rest of the world is stagnating or starting to show cracks on their economic system.
  • GBP/USD trades quietly this morning at 1.2163, after falling from near the 1.23 handle yesterday.

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  • Same story for the common currency, weak PMIs out of Europe yesterday with a 3Q GDP contraction now estimated. The euro is hovering the 1.06 level now, after dropping from near 1.07. ECB’s Lagarde is due to speak later today, and we have ECB policy decision tomorrow.

Economic Calendar

AUD - CPI q/q
AUD - CPI y/y
AUD - Trimmed Mean CPI q/q
CHF - Credit Suisse Economic Expectations
EUR - German ifo Business Climate
EUR - M3 Money Supply y/y
EUR - Private Loans y/y
EUR - Italian 10-y Bond Auction
CNY - CB Leading Index m/m
EUR - Belgian NBB Business Climate
CAD - BOC Monetary Policy Report
CAD - BOC Rate Statement
CAD - Overnight Rate
USD - New Home Sales
USD - Crude Oil Inventories
CAD - BOC Press Conference
EUR - ECB President Lagarde Speaks
USD - Fed Chair Powell Speaks
AUD - RBA Gov Bullock Speaks
JPY - SPPI y/y

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.87126 0.87052
gbp/usd 1.21759 1.21607
gbp/aud 1.91301 1.90156
gbp/nzd 2.0814 2.0735
usd/jpy 149.926 149.792
eur/usd 1.06066 1.05895
gbp/jpy 182.448 182.246
eur/cnh 7.75918 7.7395
usd/cnh 7.31827 7.30202
Equities and Commodities
Nasdaq 100 14682.8
DOW 33183.4
S&P 500 4237.54
WTI 83.29
GOLD 1975.08

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.