Daily Insights

April 23, 2024

The US Dollar is steady across the board as investors wait for a bond auction on 2-, 3- and 7- Year Treasuries. We have GDP prints and key price data coming towards the end of the week which should be crucial for investors as the US Dollar, although well supported, has failed to post further gains against major peers.

The BOJ is widely expected to leave its benchmark interest rate unchanged this Friday, but traders continue to look out for any dovish comments as the yen is near a 34-year low. Japan’s Finance Minister Suzuki drove the USD/JPY pair lower as it stated that the environment for intervention in the foreign exchange market is in place if needed, driving the pair towards 154.66.

We are trading in a very narrow range in both EUR/USD and GBP/USD at1.0635-1.0660 and 1.2330-1.2360, respectively. GBP tested the key 1.23 support yesterday following the dovish comments from the BOE’s governor on Friday, but it was widely rejected, driving the pair towards 1.2360.
Today is PMIs release day in both regions which could add volatility to trading this morning. Apart from this set of data, a couple of ECB and BOE officials are due to speak.

Economic Calendar

23 Apr 2024

JPY - Flash Manufacturing PMI

JPY - BOJ Core CPI y/y

GBP - Public Sector Net Borrowing

EUR - French Flash Manufacturing PMI

EUR - French Flash Services PMI

EUR - German Flash Manufacturing PMI

EUR - German Flash Services PMI

EUR - Flash Manufacturing PMI

EUR - Flash Services PMI

GBP - MPC Member Haskel Speaks

GBP - Flash Manufacturing PMI

GBP - Flash Services PMI

GBP - MPC Member Pill Speaks

EUR - German Buba President Nagel Speaks

USD - Flash Manufacturing PMI

USD - Flash Services PMI

USD - New Home Sales

USD - Richmond Manufacturing Index

NZD - Trade Balance

JPY - SPPI y/y

Market Indicators

Currency Pairs

Pair	High	Low
eur/gbp	0.86306	0.86254
gbp/usd	1.23584	1.23357
gbp/aud	1.91495	1.91109
gbp/nzd	2.08818	2.08418
usd/jpy	154.823	154.655
eur/usd	1.06604	1.06447
gbp/jpy	191.276	190.9
eur/cnh	7.73209	7.7218
usd/cnh	7.25808	7.24767

Equities and Commodities

Nasdaq 100	17205.5
DOW	38258.8
S&P 500	5013.55
BRENT CRUDE	87.19
WTI	82.19
GOLD	2306.03

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.

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Daily Insights

April 23, 2024

Economic Calendar

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Marketwatch EU & UK

Daily Insights April 23, 2024

Economic Calendar

Market Indicators

Other Market News

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APAC News

GPS Global Wallet Podcast

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Daily Insights

April 23, 2024