Marketwatch EU & UK

Daily Insights
July 25, 2024

  • The Yen continues to gain ground against most peers as the market continues to unwind their short positions on the currency and risk sentiment continues to deteriorate. The pair has fallen below 153, currently trading around 152.75, declining as much as 0.8% on the day. The greenback has lost 5.7% against the Japanese Yen since its peak earlier this month.
  • The US Dollar index continues to hold above the 104 level, trading at 104.27 ahead of today’s key Annualized GDP data, durable goods orders and Core PCE Price Index QoQ. Investors anxiously wait for this data to gauge the Federal Reserve’s next step in their monetary policy.
  • Germany’s private sector contracts against expectations for the month of July while France’s stagnated, ultimately confirming that the euro-area’s growth has stagnated. The pair made its way below 1.0850 but we continue to hold the 1.08-1.09 range.
  • The People’s Bank of China lowered the rate on a key short-term rate to boost economic activity in the region, surprising markets and sending the USD/CNH pair to lower ground at 7.2480.

Economic Calendar

:
USD - President Biden Speaks
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EUR - German ifo Business Climate
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EUR - M3 Money Supply y/y
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EUR - Private Loans y/y
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GBP - CBI Industrial Order Expectations
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USD - Advance GDP q/q
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USD - Unemployment Claims
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USD - Advance GDP Price Index q/q
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USD - Core Durable Goods Orders m/m
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USD - Durable Goods Orders m/m
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CNY - CB Leading Index m/m
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EUR - Belgian NBB Business Climate
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USD - Natural Gas Storage
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EUR - ECB President Lagarde Speaks
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All - G20 Meetings
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JPY - Tokyo Core CPI y/y

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.8411 0.84024
gbp/usd 1.28985 1.28861
gbp/aud 1.97042 1.96159
gbp/nzd 2.1801 2.17577
usd/jpy 153.969 152.223
eur/usd 1.08454 1.08348
gbp/jpy 198.579 196.252
eur/cnh 7.8809 7.8488
usd/cnh 7.27191 7.23979
Equities and Commodities
Nasdaq 100 19050.5
DOW 39893
S&P 500 5433.13
BRENT CRUDE 81.06
WTI 77
GOLD 2375.01

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.