Dear Reader,

 

Here is an overview of today's economic news and market action:

  • Risk averse tone to investor sentiment last week …
  • A deal to raise the US debt ceiling limit was struck at the weekend …
  • The dollar was holding in the ascendancy last week …
  • Sees EUR/USD open this morning down in the lower half of $1.07-1.08 …
  • GBP/USD is operating near the midpoint of $1.23-1.24 …
  • EUR/GBP remains just below the 87p threshold …
  • Quiet data schedule ahead today, with a market holiday in the SU and most of Europe …
  • Later this week, Eurozone flash HICP inflation (May) and the US labour market report (May) are due ….
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0737   -0.03 0..33
EUR/GBP 0.869   -0.18 -1.74
GBP/USD 1.2355   0.15 2.13
GBP/EUR 1.1503   0.18 1.77
*versus Previous Day's European Open

 
 
 
Irish Economy Watch - May 2023
 

PMI eased back to 48.6 in Apr, indicating a further softening in business conditions. New orders, including exports, and output fell. Meantime, there was a notable easing in inflation Traditional industrial production rose sharply in Mar, leaving it up by 2.3% QoQ and 7% YoY in Q1.
 
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Weekly Market View
 

UK Economy Down, But Not Out

 

The Bank of England’s (BoE) latest set of detailed economic forecasts show it is no longer expecting a recession in the UK. The forecasts are contained in its quarterly Monetary Policy Report for May 2023.
 
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Weekly Market Brief: 29 May - 2 June
 

Simply the Best

 

The past week saw the CSO publish the Labour Force Survey results for the opening quarter of 2023.
 
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