Daily Insights

January 30, 2024

Investors wait for today’s Eurozone and its main members fourth quarter growth data to better understand the economic strength of the region (Euro-area GDP is expected to have stagnated slightly). The euro trades in a narrow range ahead of the data, currently at 1.0814, bouncing back from yesterday’s low of 1.08. Eurozone economic, industrial and services confidence surveys are also due today, as well as Spain CPI.

Sterling is lower this morning and continues to trade in the 1.26-1.28 range. Inflation in UK stores dropped to the lowest in 18 months, according to the British Retail Consortium, signaling that the inflation crisis is starting to crack. Prices rose by 2.9% YoY in January, compared to the annual increase of 4.3% in December. EUR/GBP continues to head lower, breaking through 0.8550 with ease. The pair is now heading towards the key support level at 0.8500.

Oil edges higher as Saudi Arabia announced that it will not raise production capacity. This announcement comes at a time when the market is currently waiting for any US response after the attack in Jordan over the weekend, which could escalate tensions in the region.

Economic Calendar

30 Jan 2024

GBP - BRC Shop Price Index y/y

AUD - Retail Sales m/m

EUR - French Consumer Spending m/m

EUR - French Flash GDP q/q

CHF - Trade Balance

CHF - KOF Economic Barometer

EUR - Spanish Flash CPI y/y

EUR - Spanish Flash GDP q/q

EUR - Italian Prelim GDP q/q

EUR - German Prelim GDP q/q

GBP - M4 Money Supply m/m

GBP - Mortgage Approvals

GBP - Net Lending to Individuals m/m

EUR - Prelim Flash GDP q/q

EUR - Italian 10-y Bond Auction

USD - S&P/CS Composite-20 HPI y/y

USD - HPI m/m

USD - CB Consumer Confidence

USD - JOLTS Job Openings

EUR - German Buba President Nagel Speaks

JPY - BOJ Summary of Opinions

JPY - Prelim Industrial Production m/m

JPY - Retail Sales y/y

Market Indicators

Currency Pairs

Pair	High	Low
eur/gbp	0.85258	0.85167
gbp/usd	1.27211	1.26882
gbp/aud	1.9235	1.9193
gbp/nzd	2.07295	2.06596
usd/jpy	147.487	147.192
eur/usd	1.08421	1.08119
gbp/jpy	187.509	186.955
eur/cnh	7.78832	7.7664
usd/cnh	7.18927	7.17929

Equities and Commodities

Nasdaq 100	17588.7
DOW	38281.6
S&P 500	4925.36
BRENT CRUDE	82.52
WTI	76.99
GOLD	2034.4

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

January 30, 2024

Economic Calendar

Market Indicators

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Marketwatch EU & UK

Daily Insights January 30, 2024

Economic Calendar

Market Indicators

Other Market News

North America News

APAC News

GPS Global Wallet Podcast

Connect with us

Daily Insights

January 30, 2024