Tuesday 03/12/2024
Daily Update 03/12/2024
Key Headlines:
- USD records its strongest gains since 6th November.
- Political turmoil in France sparks questions about the government's stability.
Yesterday Recap
The USD saw its largest daily gain since 6th November, bolstered by stronger-than-expected ISM manufacturing PMI figures, including a surprising return to expansion in new orders. The dollar's momentum was further fuelled by Trump’s warning of 100% tariffs on BRICS countries. Meanwhile, French politics remained tense as Marine Le Pen’s party vowed to support a no-confidence motion against the government following Michel Barnier's push for the budget, driving GBPEUR to a fresh 2024 high.
Today’s Rates
Today's Interbank Rates at 09:31 am against GBP movement.
GBP>EUR – 1.2053
GBP>USD – 1.2681
EUR>GBP – 0.8296
EUR>USD – 1.0520
GBP>CAD – 1.7781
GBP>AUD – 1.9519
GBP>SEK – 13.925
GBP>AED – 4.6576
GBP>HKD – 9.8710
GBP>ZAR – 22.954
GBP>CHF – 1.1226
GBP>PLN – 5.1756
Today’s Key Takeaways
- USD Weakness: The dollar is under pressure after Fed member Christopher Waller signalled support for a rate cut in this month’s meeting. A weaker JOLTS jobs report today could further weigh on the USD.
- French Political Uncertainty: French PM Michel Barnier warns of a “moment of truth” as far-right leader Marine Le Pen aligns with a left-wing coalition to potentially topple the government as early as tomorrow.
- GBPEUR Strength: The pair continues to trade close to its 2024 highs amidst the ongoing developments.
03rd December 2024
This document has been prepared solely for information and is not intended as an Inducement concerning the purchase or sale of any financial instrument. By its nature market analysis represents the personal view of the author and no warranty can be, or is, offered as to the accuracy of any such analysis, or that predictions provided in any such analysis will prove to be correct. Should you rely on any analysis, information, or report provided as part of the Service it does so entirely at its own risk, and Frank eXchange Limited accepts no responsibility or liability for any loss or damage you may suffer as a result. Information and opinions have been obtained from sources believed to be reliable, but no representation is made as to their accuracy. No copy of this document can be taken without prior written permission.
Contact Us
Frank eXchange Limited is a trusted service partner of International Britain, offering a consultancy network of businesses designed to elevate your company on a global scale. Discover more about International Britain and explore other trusted members of our network by clicking the logo.
Office
Frank Exchange Ltd.
Unit F1, Ransom Hall, Ransom Wood Business Park, Southwell Road West,
Mansfield, NG21 0HJ.
Legal - Terms and conditions | Privacy policy
For clients based in the European Economic Area, payment services for Frank eXchange Limited are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701).
For clients based in the United Kingdom and rest of the world, payment services for Frank eXchange Limited are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199).
Payment services for Frank eXchange are also provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). License No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951
Payment services in the United States are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here. VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business ("MSB") with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041.
Anti-Bullying and Harassment Policy
At Frank eXchange Limited, we are committed to providing a safe and respectful environment for both our customers and staff. We do not tolerate any form of bullying, harassment, or abusive behaviour towards our employees.
Any communication that is deemed offensive, threatening, or disrespectful may result in the termination of services. We expect all interactions to be conducted with professionalism and courtesy to ensure a positive experience for everyone involved.
Thank you for your understanding and cooperation.
Website designed by: We Are Doodlebug