Currency Outlook: 27/11/23

Business finance
Thanim Islam

At Equals Money, it’s our mission to make money movement as simple as possible and we want to help your business move forward in 2023 despite any potential disruptions, such as market volatility or adverse currency fluctuations.

One of the ways we can help your business is by looking closer at the currency pairs you care about, by analysing market data that’s historically had an impact and using it to provide insight and to forecast what could come next.

Read on to take a look at our current outlook for w/b 27/11/23.

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Market Minute

Key FX dates & events this week:

Wednesday 29th November 2023

  • US GDP 2nd estimate (Q3) 
  • US Core PCE QoQ (Q3)

Thursday 30th November 2023

  • EU CPI and Core CPI (November)
  • US Core PCE (October)

Friday 1st December 2023

  • UK, EU, US manufacturing PMI (November)

Inflation to continue drop?

Inflation dropping at a faster pace seems to be a theme at the moment. This Thursday, we’ll get Europe’s numbers for November as well as the Fed’s preferred measure of inflation. Europe’s core number is expected to drop to 3.9% and core PCE from the US is expected to decline to 3.5%, raising the prospect of rate cuts for next year.

Source: Bloomberg Finance L.P.

Rate cut “race”

With inflation easing quicker than expected, markets have increased the odds of rate cuts across 2024. Markets currently price in 50bps worth of cuts by the BoE and approximately 70bps worth of cuts from the ECB and Fed. Whilst the UK growth story seems dire, the fact that markets are expecting less rate cuts by the BoE has helped GBP climb to 2 month highs on the trade weighted index.

Source: Bloomberg Finance L.P.

Why Choose Equals Money?

At Equals Money, our in-house currency experts are here to help you. We monitor the markets for you and let you know how any changes could affect your payments to help you navigate volatility within the currency markets.

We also offer a number of hedging solutions to help you manage the associated risks when dealing with foreign exchange and volatile markets, such as market monitoring, the Equals Money Rate Watch, forward contracts, and market orders.1 Your own dedicated account manager will be on-hand to guide you through all your options so you can make the best decision for you and your business.

You can’t control what happens in the market - but you can control how you manage volatility and risk and take care of your company. Equals Money is here to help you with your finances so you can spend less time worrying about FX rates and more time growing your business.

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1Equals Money can only offer forward contacts to facilitate payments for goods and services

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