Currency news

Volatility to pick up?

Head of FX Analysis at Equals Money
-
3
min read
Publish date
03/09/24
    • ISM Manufacturing numbers key for today


    Yesterday's currency recap

    With the US celebrating Labour day yesterday conditions for liquidity were thin and, as expected, it was a quiet day.

    EU manufacturing PMIs saw a slight upward revision to 45.8, while the UK's figures held steady at 52.5.

    Today's GBP rates

    Currency pair Daily move* Indicative rate**
    GBPAUD -0.20% 1.9365
    GBPCAD 0.05% 1.7741
    GBPCHF 0.30% 1.1193
    GBPDKK -0.04% 8.8590
    GBPEUR -0.04% 1.1877
    GBPJPY 0.65% 193.1880
    GBPNOK 0.04% 13.9225
    GBPNZD 0.44% 2.11
    GBPSEK -0.07% 13.4783
    GBPUSD 0.15% 1.3146


    *Daily move - against
    G10 rates at 7:30am, 03.09.24

    ** Indicative rates - interbank rates at 7:30am, 03.09.24

    Key data points

    Currency Event Period Consensus Previous
    USD Manufacturing PMI Aug Final 48.10 48.00
    USD ISM Manufacturing PMI Aug 47.50 46.80

    What we think

    Today’s ISM manufacturing PMIs will give markets a barometer of how the US economy is doing. A drop in activity will likely give another warning signal about the state of the US economy, while a drop in risk appetite could negatively impact the closely linked GBP. Risk aversion could see markets flock to safe havens.

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