EMISSIONS: UK Residence-based GHG Emissions in 2024 Fall 0.5% Y/Y
Oct-24 13:08
UK residence-based greenhouse gas emissions were estimated at 476mn tCO2e in 2024, down 0.5% from 2023 and 43.3% below 1990 levels, according to the Office for National Statistics.
- Residence basis include data relating to UK resident and UK-registered businesses, regardless of whether they are in the UK or oversea.
- The manufacturing sector recorded the largest decrease in 2024, with emissions falling 7.4% to 65mn tCO2e from 70mn tCO2e in 2023.
- The transport sector saw emissions rise 4.5%, continuing an upward trend since 2021.
- Consumer expenditure remained the largest contributor to UK residence-based emissions, accounting for 26% of the 2024 total, followed by transport at 16.1%.
- All figures are provisional and subject to revision.
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GBPUSD TECHS: Trendline Support Has Been Pierced
Sep-24 13:08
- RES 4: 1.3893 1.236 proj of the Aug 1 - 14 - Sep 3 price swing
- RES 3: 1.3789 High Jul 1 and key resistance
- RES 2: 1.3753 High Jul 2
- RES 1: 1.3661/3726 High Sep 18 / 17
- PRICE: 1.3443 @ 14:08 BST Sep 24
- SUP 1: 1.3436 Intraday low
- SUP 2: 1.3426 76.4% retracement of the Sep 3 - 17 bull leg
- SUP 3: 1.3333 Low Sep 3 and a key support
- SUP 4: 1.3282 Low Aug 6
GBPUSD is trading lower today and this marks an extension of the corrective cycle that started Sep 17. The move down has resulted in a print below 1.3458, trendline support drawn from the Aug 1 low. A clear break of this line would strengthen a bearish theme and expose 1.3333, the Sep 3 low and a key support. Initial resistance to watch is 1.3537, the Sep 23 high. Clearance of this hurdle would signal a reversal.
STIR: Effective Fed Funds Rate
Sep-24 13:00
FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 4.09% (+0.00), volume: $95B
- Daily Overnight Bank Funding Rate: 4.09% (+0.00), volume: $188B
MNI: BELGIUM SEP BNB BUSINESS CONFIDENCE -7.9
Sep-24 13:00
- MNI: BELGIUM SEP BNB BUSINESS CONFIDENCE -7.9
