EU inflation nudged up in November to 2.2% year on year, reinforcing market expectations that interest rates are likely to remain on hold over the coming 12 months.
In general, FX trading remained in tight ranges.
| Currency pair | Daily move* | Indicative rate** |
|---|---|---|
| GBPAUD | -0.40% | 2.0111 |
| GBPCAD | -0.22% | 1.8455 |
| GBPCHF | -0.22% | 1.0611 |
| GBPDKK | -0.13% | 8.49 |
| GBPEUR | -0.13% | 1.1367 |
| GBPJPY | 0.03% | 205.505 |
| GBPNOK | 0.01% | 13.3885 |
| GBPNZD | -0.20% | 2.3021 |
| GBPSEK | -0.22% | 12.4606 |
| GBPUSD | -0.20% | 1.3189 |
*Daily move - against G10 rates as of 06:00 GMT, 03.12.25
** Indicative rates - interbank rates as of 06:00 GMT, 03.12.25
| Currency | Event | Period | Consensus | Previous |
|---|---|---|---|---|
| USD | ADP Employment Changes | Nov | 10,000 | 42,000 |
| USD | ISM Services | Nov | 52.00 | 52.40 |
Just EU inflation numbers out this morning with not much deviation expected from October. Which in turn will continue to support the EUR and the markets pricing for minimal rate chance over the next 12 months.
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