Tuesday 26/11/2024

John Hall • November 26, 2024

Daily Update 26/11/2024

Key Headline:

USD Update: Trump announces plans to impose 25% tariffs on imports from Canada and Mexico.

Yesterday Recap

The USD softened further in the afternoon after Scott Bessent was named US Treasury Secretary. This allowed EUR/USD to rebound nearly 2% from Friday’s lows, while GBP/USD gained 1%. Overall market sentiment improved on reports suggesting that Israel might be close to reaching a ceasefire agreement with Lebanon’s Hezbollah.

Today’s Rates

Today's Interbank Rates at 09:26 am against GBP movement.

GBP>EUR – 1.1958

GBP>USD – 1.2561

EUR>GBP – 0.8360

EUR>USD – 1.0502

GBP>CAD – 1.7718

GBP>AUD – 1.9370

GBP>SEK – 13.818

GBP>AED – 4.6133

GBP>HKD – 9.7760

GBP>ZAR – 22.746

GBP>CHF – 1.1132

GBP>PLN – 5.1615

Today’s Key Takeaways

Trump Announces New Tariffs:

Donald Trump declared additional tariffs overnight—10% on goods from China and 25% on all products from Mexico and China.

Impact on Currency Pairs:

GBP/CAD rose by 0.7%.
GBP/MXN climbed by 1.2%.
GBP/CNY increased slightly by 0.2%.

Key Events Today:

Multiple speeches from ECB members and BoE's Pill.
Release of the Fed's last meeting minutes this afternoon, offering insights into their recent decision-making.

26th November 2024

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