Friday 29/11/2024
Daily Update 29/11/2024
Key Headlines:
- BoJ Rate Hike Anticipation: Markets increase expectations for a December rate hike by the Bank of Japan.
- EU CPI in Focus: Key inflation data to provide clues on the ECB’s next policy move.
Yesterday Recap
The EUR weakened in the afternoon following comments from ECB member Villeroy, who hinted at the possibility of cutting rates below the neutral level and keeping options open for the size of a potential December cut. Meanwhile, Germany’s CPI for November showed annual growth but fell short of market expectations.
Today’s Rates
Today's Interbank Rates at 09:54 am against GBP movement.
GBP>EUR – 1.2024
GBP>USD – 1.2696
EUR>GBP – 0.8317
EUR>USD – 1.0557
GBP>CAD – 1.7771
GBP>AUD – 1.9509
GBP>SEK – 13.838
GBP>AED – 4.6622
GBP>HKD – 9.8810
GBP>ZAR – 23.937
GBP>CHF – 1.1185
GBP>PLN – 5.1742
Today’s Key Takeaways
- JPY Surge: Japan's higher-than-expected inflation data increases expectations of a December rate hike by the Bank of Japan.
- USD Retreat: JPY strength triggers a USD sell-off, pushing GBP/USD to 2-week highs and EUR/USD to 1-week highs, though gains have since moderated.
- Eurozone CPI in Focus: Key inflation data today will guide expectations for the ECB’s December rate cut, with a strong reading likely boosting the EUR.
29th November 2024
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