Marketwatch EU & UK

Daily Insights
November 7, 2023

flag united states 1f1fa 1f1f8

  • Fed’s Neel Kashkari stated that it is too soon to declare that the fight against inflation is over, despite the economy starting to show signs of it slowing. Earlier to his words, he also added that the risk of over-tightening is preferable to not doing enough, which would delay the central bank on its race back to the 2% goal.
  • The US Dollar started the day steady but gaining against major peers, with the Dollar Index following yesterday’s close at +0.1%.

flag european union 1f1ea 1f1fa

  • EUR/USD is lower, currently trading at 1.0694 after Germany Industrial Production MoM posted a -1.4% decrease, vs. -0.1% survey. Investors now wait for the euro-area PPI data due later this morning, where the YoY gauge is estimated at -12.5%, vs. prior -11.5%.

flag united kingdom 1f1ec 1f1e7

  • GBP/USD followed its European peer, and it is trading lower at 1.2320, as Rishi Sunak waits for the King Charles’s speech at the opening of the Parliament to set out the government’s legislative agenda that will keep him and the conservative parliament in power.

Economic Calendar

:
GBP - BRC Retail Sales Monitor y/y
:
CNY - Trade Balance
:
CNY - USD-Denominated Trade Balance
:
AUD - Cash Rate
:
AUD - RBA Rate Statement
:
CHF - Unemployment Rate
:
EUR - German Industrial Production m/m
:
GBP - Halifax HPI m/m
:
CHF - Foreign Currency Reserves
:
EUR - PPI m/m
:
GBP - 10-y Bond Auction
:
USD - FOMC Member Kashkari Speaks
:
USD - FOMC Member Goolsbee Speaks
:
CAD - Trade Balance
:
USD - Trade Balance
:
USD - FOMC Member Barr Speaks
:
USD - FOMC Member Waller Speaks
:
USD - IBD/TIPP Economic Optimism
:
USD - RCM/TIPP Economic Optimism
:
NZD - GDT Price Index
:
CAD - Gov Council Member Kozicki Speaks
:
USD - FOMC Member Logan Speaks
:
EUR - German Buba President Nagel Speaks
:
USD - Consumer Credit m/m
:
USD - Treasury Currency Report

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.86868 0.86789
gbp/usd 1.23467 1.23149
gbp/aud 1.91862 1.89574
gbp/nzd 2.08021 2.06694
usd/jpy 150.431 149.959
eur/usd 1.07193 1.06961
gbp/jpy 185.409 185.093
eur/cnh 7.81006 7.7952
usd/cnh 7.2903 7.27667
Equities and Commodities
Nasdaq 100 15132.2
DOW 34015.3
S&P 500 4358.66
BRENT CRUDE 84.14
WTI 79.97
GOLD 1968.21

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.