Dear Reader,
Today's overview of economic news and market action
- Mixed mood on markets last week …
- US futures softened by circa 5bps as US CPI inflation edged lower …
- Currency-wise, the dollar was under some downward pressure …
- Sees EUR/USD open this morning in the top half of $1.08-1.09 …
- GBP/USD is operating above the $1.27 threshold …
- EUR/GBP is changing hands north of the midpoint of 85-86p …
- This week, the flash PMIs (May) and UK CPI inflation (April) are due …
- On the monetary policy front, remarks from a number of officials will also be in focus …
Continue Reading
|
|
|
|
Today's Opening FX Rates
| |
|
|
% Change Day* |
End 2023 |
| EUR/USD |
1.0881 |
|
0.25 |
-0.40 |
| EUR/GBP |
0.8562 |
|
-0.17 |
-1.22 |
| GBP/USD |
1.2707 |
|
0.41 |
-0.17 |
| GBP/EUR |
1.1674 |
|
0.18 |
1.24 |
| *versus Previous Day's European Open |
|
|
|
|
Weekly Market Brief: 20 - 24 May
Data give comfort ahead of June ECB decision
With the market leaning towards a June rate cut, the latest inflation and wage data for the Eurozone suggest price pressure continues to ease in line with expectations, building the case for a shift in ECB policy at its next meeting. Friday’s Eurozone inflation release confirms the initial estimate of a 2.4% rise in consumer prices in April.
Read More
|
|
|
|
|
|
|
|
Bank of England Watch - May 2024
BoE opens door to possible rate cut in June
The May meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank keep its key interest rate unchanged at 5.25%. This outcome was very much in line with market expectations. It marked the sixth consecutive meeting where the BoE has remained on hold. Once again, the voting breakdown today showed the MPC remained split on its rate decision.
Read More
|
| |
|
AIB Ireland Services PMI®
Services activity rises more slowly in April
The latest AIB PMI® survey data indicated a further rise in Irish service sector output in April, but the rate of growth was the slowest since January. New business growth also eased since March, contributing to a softer rate of job creation.
Read More
|
| |
|
AIB Ireland Manufacturing PMI®
Steepest fall in new orders since December 2022
AIB Ireland Manufacturing PMI® data signalled a sustained reduction in output volumes and incoming new work during April, with both rates of decline accelerating since the previous survey period. Total new business decreased to the greatest extent for 16 months, in part reflecting a sharp fall in export sales.
Read More
|
|
|
|
|
|
