Daily Insights

January 4, 2024

The US Dollar consolidated after advancing on Wednesday following the Fed’s minutes for the December meeting suggesting the central bank is in no rush to cut interest rates. Fed policymakers agreed that it is appropriate to keep interest rates at the current levels and that they have likely peaked.
The greenback’s recent recovery could be extended as markets may have priced in steep rate cuts too quickly.

The Euro is trading above 1.09 as investors wait for German and French inflation prints that can give fresh clues for Friday’s Euro-Zone CPI. PMIs for Spain, Germany, Italy, and Sweden are also due today.

The Sterling extended gains against the euro yesterday afternoon, rising to the strongest level in two weeks. EUR/GBP dropped 0.5% to 0.8628 and GBP/USD advanced as much as 0.3% to 1.2656. We are currently trading at 0.8620 in EUR/GBP, and at 1.2688 in GBP/USD.

Oil advanced more than 3% on Wednesday as supply disruptions in Lydia and tensions in the middle east are affecting the key crude production region.

Economic Calendar

04 Jan 2024

JPY - Final Manufacturing PMI

CNY - Caixin Services PMI

EUR - German Prelim CPI m/m

EUR - French Prelim CPI m/m

EUR - Spanish Services PMI

EUR - Italian Services PMI

EUR - French Final Services PMI

EUR - German Final Services PMI

EUR - Final Services PMI

GBP - Final Services PMI

GBP - M4 Money Supply m/m

GBP - Mortgage Approvals

GBP - Net Lending to Individuals m/m

EUR - Spanish 10-y Bond Auction

EUR - French 10-y Bond Auction

USD - Challenger Job Cuts y/y

USD - ADP Non-Farm Employment Change

USD - Unemployment Claims

USD - Final Services PMI

USD - Natural Gas Storage

USD - Crude Oil Inventories

JPY - Monetary Base y/y

Market Indicators

Currency Pairs

Pair	High	Low
eur/gbp	0.86272	0.8619
gbp/usd	1.26823	1.26569
gbp/aud	1.88324	1.87669
gbp/nzd	2.03089	2.02029
usd/jpy	143.894	142.854
eur/usd	1.09344	1.09159
gbp/jpy	182.268	181.011
eur/cnh	7.83104	7.81359
usd/cnh	7.16803	7.15448

Equities and Commodities

Nasdaq 100	16424.1
DOW	37507.1
S&P 500	4718.92
BRENT CRUDE	78.73
WTI	73.36
GOLD	2047

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

January 4, 2024

Economic Calendar

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Marketwatch EU & UK

Daily Insights January 4, 2024

Economic Calendar

Market Indicators

Other Market News

North America News

APAC News

GPS Global Wallet Podcast

Connect with us

Daily Insights

January 4, 2024