Our daily analysis of EUR, GBP and USD.

DAILY ANALYSIS

USD

• Key monthly US jobs report due out today.
  • Headline payrolls data for November is expected to come in at 180K versus 150K last month.
  • Unemployment forecasted to remain unchanged at 3.9%.
• Renewed dollar strength this week coupled with a rebound in US Treasury bond yields.

EUR

• German CPI data released earlier showing November’s inflation figures confirmed at 3.2% reinforcing the market belief that the ECB has got eurozone inflation under control and can start to cut rates earlier than previously thought in 2024.
• EURUSD continues to trade below 1.08, seeing some strong support at 1.0760.
• Unlikely to see any major EURUSD moves prior to US Non Farm release at 1.30pm.

JPY

• JPY grabbed market attention yesterday, after BOJ Governor Kazuo Ueda’s comments to lawmakers that his job was going to get more challenging next week.
  • This lead to speculation that he central bank will start lifting its sub-zero benchmark rate soon.
  • The yen as a result hit a 3 month high

Daily Rates

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