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Home > Market Watch > EU & UK News > Fri December 8, 2023

Daily Insights
December 8, 2023

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  • The US Dollar is muted across the board, but still getting under pressure against the Yen. The pair is now holding under 144 after touching 142.34 earlier in the session, as traders continue to bet on a policy tweak by the Bank of Japan this month. The Yen is set to post the largest weekly gain against the greenback since mid-July.
  • In the US, all eyes are on today’s Non-Farm Payrolls data where traders are expecting it will provide fresh evidence of a cooling labour market, which should help the Fed’s case to hold interest rates and potentially cut them in 2024.

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  • The euro consolidates under 1.08 against the US Dollar while Cable gets hit, trading below 1.26, at 1.2566 as the market waits for US Jobs date to determine the next direction.

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  • Oil is headed for the worst week of losses since 2018 as concerns increase about a global glut, with markets doubtful that deeper supply cuts by OPEC+ will be effective.

Economic Calendar

08 Dec 2023
:
JPY - Economy Watchers Sentiment
:
EUR - German Final CPI m/m
:
EUR - Italian Bank Holiday
:
CNY - New Loans
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CNY - M2 Money Supply y/y
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GBP - Consumer Inflation Expectations
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EUR - ECOFIN Meetings
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CAD - Capacity Utilization Rate
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USD - Average Hourly Earnings m/m
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USD - Non-Farm Employment Change
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USD - Unemployment Rate
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USD - Prelim UoM Consumer Sentiment
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USD - Prelim UoM Inflation Expectations

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.85802 0.8564
gbp/usd 1.26014 1.25602
gbp/aud 1.90884 1.90029
gbp/nzd 2.04441 2.03901
usd/jpy 144.395 142.491
eur/usd 1.08007 1.07729
gbp/jpy 181.632 179.536
eur/cnh 7.73315 7.7182
usd/cnh 7.17194 7.14859
Equities and Commodities
Nasdaq 100 15985.7
DOW 36107.8
S&P 500 4580.61
BRENT CRUDE 75.56
WTI 70.71
GOLD 2029.54

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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