FX markets

Daily Market View 31-10-2025

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1:26

Quiet Day Allows us to Look Ahead

1 Minute Market Rundown

Pound modestly recovers against the Euro, trading above its two year low, USD remains harder to crack.
Barclays comes out to back a BoE cut next Thursday, citing various bond expiration dates.
PCE data for US releases today, expected to show rising costs for producers.

GDP-

Some days, there simply ain't no fish and today is one of those days. The only real release on the calendar is the US PCE data for September, PCE being producer cost expenditure. This figure is likely to be higher, just as the CPI was for September, as tariffs continue to bite.

Screenshot 2025-10-31 085146

The Pound is still struggling against the Dollar, but is recovering against the Euro, which is possibly something to do with the chart showing estimates of the BoE's interest rate after next Thursday's meeting. I remain unconvinced that we'll see a cut, after inflation just held at 3.8% over the past two months, still much too high.

Time will tell however and Barclays certainly think that with unemployment high and rising, growth low and inflation now paused, there's a better chance than not of a cut.

Markets Today

*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer on check online for a live quote

Today's Economic Calendar

Major Economic Releases (All times in GMT)

12:30- US PCE Data

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