Welcome to the new and improved Weekly Market Update from IFX Payments.
We’ve refreshed our weekly emails to deliver sharper insight and more value – supported by our new FX Market Analyst, Joe Tuckey. You can now subscribe to receive in-depth, focused reports on the major currency pairs you care about, all written by Joe.
Joe brings decades of experience across FX and trading. At IFX, he’s producing fundamental and technical reports, bespoke market analysis, webinars and more – looking at the forces driving FX markets and the technicals behind key moves, to keep our readers informed.
Before joining IFX, Joe was Head Analyst at a London PLC, with regular appearances on CNBC and BBC TV, and contributions to The Times, Daily Mail, The Telegraph, Reuters and BBC Radio 4. Joe was also a derivatives trader for over fourteen years, across equities, commodities and FX markets.
If you want to receive the full reports in your inbox each week, just head to our subscribe page, linked below.
Current rates
| Currency pair | Rate |
|---|---|
| gbp usd | 1.3108 |
| eur usd | 1.1544 |
| gbp eur | 1.1356 |
Rates correct as of 13:00am on Monday 24 November but may now have changed.
The Big 3
A deeper look at the performance of major currency pairs this week. Click below to get the full report.
GBP/USD pressured as markets brace for UK budget
Sterling remains under pressure, with recent GBP/USD weakness reflecting caution ahead of Wednesday’s Budget. Markets expect a package led by tax measures to close the £20–30bn fiscal gap, much of which may already be priced into the softer pound. Here we look at what a disinflationary budget would entail and how the dollar is faring amidst reduced data visibility and firmer Fed rhetoric. Read the report for more of this and an insight into how GBP/USD is trending.
EUR/USD slips as weak eurozone data meets firm dollar
EUR/USD extended its downside bias last week as firm dollar demand collided with softer eurozone data, most notably weaker-than-expected PMIs and another miss in Germany’s business climate readings. A light eurozone data calendar keeps focus on upcoming German CPI and broader geopolitical developments. Discover the key technical levels that could define the next move in EUR/USD in the full report.
GBP/EUR sees euro upside despite modest data
We know sterling has been under pressure for weeks though we’ll wait until the budget to see any further impact. The euro’s recent gains against sterling largely reflect this weakness, rather than strong eurozone fundamentals, as German PMIs and business climate data continue to disappoint. Find out where attention is turning this week and what the other macro drivers are for GBP/EUR this week.
Looking forward
Key dates for your calendar.
- Tuesday: Germany reports GDP. US report retail sales and PPI.
- Wednesday: UK Chancellor delivers Autumn budget. The Fed releases Beige Book incl. GDP data.
- Thursday: US markets are closed for Thanksgiving.
- Friday: Several countries report GDP. Eurozone inflation data.
Here’s what we’re talking to our clients about
We’re always here to support. Here are some of the conversations we’re having:
- The budget
- BoE and Fed interest rate changes
- Reviewing EOY and planning into FY26
The contents of this article do not constitute financial advice and are provided for general information purposes only. While the content is based on information believed to be accurate at the time of publication, no guarantee is provided.