European stocks have slipped further this morning weighing on the Euro currency as concerns around U.S threats to seize Greenland grew. Investors have been keeping a close eye on developments as Donald Trump has threatened to use military force to take Greenland, which is territorially a part of Denmark. The broader picture here is the potential damage or fallout for NATO as both the U.S and Denmark are NATO members.
Earlier this morning, Germany Factory Orders provided a healthy end to 2025 with November figures jumping to 5.6% from previous readings of 1.6%. This is largely positive for the Eurozone’s largest economy, who had been going through struggles economically at times through the past year. Economic Sentiment at the top of the hour may also provide further relief for The Euro, with expectations suggesting a reading of 97, again showing consistent optimism within The Bloc. Any surprise reading below this could see downward movement on The Euro, but a reading of 97 should bring further support to the currency.
Moving into the afternoon we have the weekly release of US Jobs figures with continuing and new jobless claims. Initial Jobless claims suggest an increase of 11,000 which doesn’t bode well and could weigh further on The Dollar, especially considering ADP Employment figures yesterday showed a loss 6,000 jobs compared to the month prior. This leads nicely onto Non-Farm Payroll tomorrow which currently suggests another loss in job figures by minimum 4,000. This data has historically been extremely volatile and therefore we could see swings in either direction for The Dollar depending on how the data comes out.
GBP/EUR 1.1497 GBP/USD 1.3427 GBP/AED 4.9350
GBP/AUD 2.0067 GBP/CHF 1.0715 GBP/CAD 1.8644
GBP/NZD 2.3387 EUR/USD 1.1663 GBP/ZAR 22.1492