Friday 22/11/2024
Daily Update 22/11/2024
Key Headlines:
- USD Strengthens Amid Geopolitical Concerns: Safe-haven demand continues to support the US dollar.
- PMI Data in Spotlight: Attention turns to today's PMI releases for insights into economic performance.
Yesterday Recap
The USD extended its gains into the close of European trading, accompanied by strength in the JPY, as investors sought safe-haven assets amid escalating Russia-Ukraine tensions. Earlier, Ukraine's Air Force confirmed that Russia had launched intercontinental ballistic missiles at Dnipro. Both GBP/USD and EUR/USD broke through previous support levels, with the former hitting its lowest point since May 2024 and the latter reaching an October 2023 low.
Today’s Rates
Today's Interbank Rates at 10:20 am against GBP movement.
GBP>EUR – 1.2012
GBP>USD – 1.2498
EUR>GBP – 0.8328
EUR>USD – 1.0417
GBP>CAD – 1.7502
GBP>AUD – 1.9259
GBP>SEK – 13.889
GBP>AED – 4.5937
GBP>HKD – 9.7300
GBP>ZAR – 22.587
GBP>CHF – 1.1129
GBP>PLN – 5.2144
Today’s Key Takeaways
- Weak UK Retail Sales: Retail sales in the UK saw a sharper-than-expected drop in October compared to September, putting early pressure on GBP.
- PMI Releases Today: November PMI data from the UK, EU, and US will provide insight into the current growth trends and economic performance of these regions.
- Focus on Geopolitical Tensions: As the weekend approaches, attention remains on the Russia-Ukraine situation and whether it continues to drive safe-haven demand for USD and JPY.
22nd November 2024
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