Marketwatch EU & UK

Daily Insights
December 20, 2023

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  • The sterling started the day weaker against the greenback and continues to lose as UK Inflation data came in lower than expected. November Core CPI YoY and Headline CPI YoY rose +5.1% vs. est. +5.6%, and +3.9% vs. est. +4.3%, respectively.
  • Cable currently trades at 1.2677 and, FTSE and Gilt futures look set to a good start of day as this notable slowdown in inflation can increase rate cut speculation.

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  • The euro tried to aim for 1.10 yesterday afternoon, but we got as far as 1.0987. Today we are lower, consolidating near 1.0950 ahead of today’s Germany PPI and consumer confidence.

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  • The Yen trades at 143.50 against the US Dollar, consolidating below 144 as traders digest BOJ’s decision of no changes in their negative rate monetary policy.

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  • Oil is little changed this morning after gaining for two consecutive days, as traders and shippers wait for any developments on the disruptions on the Red Sea as it can signal a potential escalation of the Israel-Hamas conflict.

 

This will be the last Market Watch update of 2023, and we would like to wish all our readers a Merry Christmas and a Happy New Year.

Economic Calendar

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CNY - 1-y Loan Prime Rate
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CNY - 5-y Loan Prime Rate
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EUR - German GfK Consumer Climate
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EUR - German PPI m/m
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GBP - CPI y/y
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GBP - Core CPI y/y
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GBP - PPI Input m/m
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GBP - PPI Output m/m
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GBP - RPI y/y
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CNY - Foreign Direct Investment ytd/y
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EUR - Current Account
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GBP - HPI y/y
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USD - Current Account
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CHF - SNB Quarterly Bulletin
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CNY - CB Leading Index m/m
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EUR - Consumer Confidence
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USD - CB Consumer Confidence
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USD - Existing Home Sales
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USD - Crude Oil Inventories
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USD - FOMC Member Goolsbee Speaks
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CAD - BOC Summary of Deliberations

Market Indicators

Currency Pairs
Pair High Low
eur/gbp 0.8652 0.86179
gbp/usd 1.27298 1.26385
gbp/aud 1.88528 1.86847
gbp/nzd 2.03255 2.01502
usd/jpy 144.098 143.364
eur/usd 1.09794 1.09506
gbp/jpy 183.332 181.436
eur/cnh 7.82945 7.8136
usd/cnh 7.1382 7.12044
Equities and Commodities
Nasdaq 100 16855.9
DOW 37616.1
S&P 500 4777.13
BRENT CRUDE 79.34
WTI 74.11
GOLD 2041.86

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.