Daily Insights

November 7, 2023

Fed’s Neel Kashkari stated that it is too soon to declare that the fight against inflation is over, despite the economy starting to show signs of it slowing. Earlier to his words, he also added that the risk of over-tightening is preferable to not doing enough, which would delay the central bank on its race back to the 2% goal.
The US Dollar started the day steady but gaining against major peers, with the Dollar Index following yesterday’s close at +0.1%.

EUR/USD is lower, currently trading at 1.0694 after Germany Industrial Production MoM posted a -1.4% decrease, vs. -0.1% survey. Investors now wait for the euro-area PPI data due later this morning, where the YoY gauge is estimated at -12.5%, vs. prior -11.5%.

GBP/USD followed its European peer, and it is trading lower at 1.2320, as Rishi Sunak waits for the King Charles’s speech at the opening of the Parliament to set out the government’s legislative agenda that will keep him and the conservative parliament in power.

Economic Calendar

07 Nov 2023

GBP - BRC Retail Sales Monitor y/y

CNY - Trade Balance

CNY - USD-Denominated Trade Balance

AUD - Cash Rate

AUD - RBA Rate Statement

CHF - Unemployment Rate

EUR - German Industrial Production m/m

GBP - Halifax HPI m/m

CHF - Foreign Currency Reserves

EUR - PPI m/m

GBP - 10-y Bond Auction

USD - FOMC Member Kashkari Speaks

USD - FOMC Member Goolsbee Speaks

CAD - Trade Balance

USD - Trade Balance

USD - FOMC Member Barr Speaks

USD - FOMC Member Waller Speaks

USD - IBD/TIPP Economic Optimism

USD - RCM/TIPP Economic Optimism

NZD - GDT Price Index

CAD - Gov Council Member Kozicki Speaks

USD - FOMC Member Logan Speaks

EUR - German Buba President Nagel Speaks

USD - Consumer Credit m/m

USD - Treasury Currency Report

Market Indicators

Currency Pairs

Pair	High	Low
eur/gbp	0.86868	0.86789
gbp/usd	1.23467	1.23149
gbp/aud	1.91862	1.89574
gbp/nzd	2.08021	2.06694
usd/jpy	150.431	149.959
eur/usd	1.07193	1.06961
gbp/jpy	185.409	185.093
eur/cnh	7.81006	7.7952
usd/cnh	7.2903	7.27667

Equities and Commodities

Nasdaq 100	15132.2
DOW	34015.3
S&P 500	4358.66
BRENT CRUDE	84.14
WTI	79.97
GOLD	1968.21

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.

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Marketwatch EU & UK

Daily Insights

November 7, 2023

Economic Calendar

Market Indicators

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Marketwatch EU & UK

Daily Insights November 7, 2023

Economic Calendar

Market Indicators

Other Market News

North America News

APAC News

GPS Global Wallet Podcast

Connect with us

Daily Insights

November 7, 2023