Key Headlines

•            USD still gaining in this market

•            UK job numbers mixed

Recap

US retail sales beat expectations in March, causing US treasury yields to climb to 4.64%, as well as causing more gains for USD, with EURUSD hitting new 6-month lows. The data continues to illustrate how much better the US economy is performing than initially expected.

Today’s Overview

Mixed numbers from the job market today with weekly earnings coming in higher-than-expected, but the unemployment rate also coming in higher as 4.2% from 3.9%. GBP is mixed across the board as a result, with market pricing still suggesting the BoE will cut rates in August. Tomorrow’s inflation numbers at 7am will be the next key event for GBP. USD is marginally higher to start the day, sticking to its current uptrend. We have a host of speakers from the ECB, Fed, BoE.

Equals Market Analysis– 16^th April 2024

Today’s Rates

Today's Interbank Rates at 09:13 am against GBP movement.

GBP>EUR – 1.1711

GBP>USD – 1.2437

EUR>USD – 1.0619

GBP>CAD – 1.7157

GBP>AUD – 1.9377

GBP>SEK – 13.602

GBP>AED – 4.5664

GBP>HKD – 9.7360

GBP>ZAR – 23.749

GBP>CHF – 1.1345

GBP>PLN – 5.0644

Speeches

•          EUR: ECB Rehn, Villeroy, and Vujcic

•          USD: Fed Powell, Jefferson, Barkin

•          GBP: BoE Baileu

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