Wednesday 08/01/2025
Daily Update 08/01/2025
Key Headline:
USD strengthens on the back of economic data highlighting sustained momentum in the economy.
Recap
The USD regained ground on Tuesday, supported by US job openings hitting a six-month high and stronger-than-expected ISM services data, signalling robust economic growth. The elevated prices paid component of the ISM report reignited inflation concerns, prompting markets to push the expected timing of the first Fed rate cut to July. Meanwhile, EU CPI figures met expectations, rising to 2.4% earlier in the day.
Today’s Rates
Today's Interbank Rates at 10:18 am against GBP movement.
GBP>EUR – 1.2068
GBP>USD – 1.2450
EUR>GBP – 0.8286
EUR>USD – 1.0313
GBP>CAD – 1.7886
GBP>AUD – 2.0020
GBP>SEK – 13.896
GBP>AED – 4.5711
GBP>HKD – 9.6830
GBP>ZAR – 23.411
GBP>CHF – 1.1353
GBP>PLN – 5.1499
Today’s Key Takeaways
- EU inflation updates arrive today with the release of Producer Price Index (PPI) figures.
- Key US data includes weekly jobless claims and ADP payroll numbers.
- The USD rally from yesterday persists, and similar economic trends could sustain its strength.
08th January 2025
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