Dear Reader,
Today's overview of economic news and market action:
- Quiet start to the week on markets …
- Data-wise, US manufacturing ISM remained in contraction mode …
- Currency-wise, the main pairs operated in very tight ranges …
- EUR/USD remains in and around the $1.09 threshold …
- EUR/GB P continues to straddle the 86p handle …
- GBP/USD is changing hands just above the $1.27 mark …
- Sparse data calendar & US holiday suggest it may be quiet again today on markets …
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Today's Opening FX Rates
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% Change |
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Day* |
End 2021 |
| EUR/USD |
1.091 |
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-0.05 |
1.94 |
| EUR/GBP |
0.8584 |
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-0.08 |
-2.94 |
| GBP/USD |
1.2705 |
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0.00 |
5.03 |
| GBP/EUR |
1.1644 |
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0.08 |
3.03 |
| *versus Previous Day's European Open |
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Weekly Market View
Challenging outlook for the global economy
Rampant inflation, aggressive interest rate hikes by Central Banks and elevated geopolitical tensions saw global economic growth slow notably over the course of 2022. However, looking back over the first six months of 2023, many of the key advanced economies have performed better than anticipated.
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Irish Economy Watch - June 2023
PMI declined to 47.5 in May, indicating a further softening in business conditions. New orders, and output fell. Meantime, there was a further notable easing in inflation
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