Thursday 28/11/2024
Daily Update 28/11/2024
Key Headlines:
· USD Profit-Taking Continues: Markets trim recent USD gains.
· Key Data Ahead: Germany’s CPI figures take centre stage today.
Yesterday Recap
The USD weakened broadly yesterday as Q3 core PCE was revised down to 2.1% from 2.2%, slightly increasing market expectations for a December rate cut. The decline was further driven by month-end financial flows and anticipation of rate decisions from several G10 central banks, including the Fed, ECB, BoJ, BoC, and SNB, all expected within the next three weeks.
Today’s Rates
Today's Interbank Rates at 09:52 am against GBP movement.
GBP>EUR – 1.2009
GBP>USD – 1.2651
EUR>GBP – 0.8325
EUR>USD – 1.0533
GBP>CAD – 1.7722
GBP>AUD – 1.9472
GBP>SEK – 13.839
GBP>AED – 4.6465
GBP>HKD – 9.8440
GBP>ZAR – 23.042
GBP>CHF – 1.1192
GBP>PLN – 5.1745
Today’s Key Takeaways
· German CPI in Focus: Key data release this afternoon could impact EUR performance.
· ECB Commentary Boosts EUR: Recent hawkish remarks cautioning against steep rate cuts have driven the currency higher.
· Potential for Continued EUR Gains: Higher German CPI today could support further upward momentum, ahead of French and eurozone CPI data tomorrow.
· Tokyo CPI Insight: Japan’s inflation data may strengthen expectations of a December rate hike by the BoJ.
28th November 2024
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