Dear Reader,

 

Today's economic news and market action:

  • Cautious mood to investor sentiment yesterday
  • S&P 500 was down by 1.3% at the close last night
  • Currency-wise, main pairs confined to relatively narrow ranges
  • Within this, the dollar was holding a slightly firmer tone
  • EUR/USD is back below midpoint of $1.08-1.09
  • Elsewhere, EUR/GBP continues to trade in the upper half of 87-88p
  • Busy macro diary today
  • Includes Eurozone Q4 GDP, US Q4 Wage growth and Consumer confidence (Jan)
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0841   -0.25 1.30
EUR/GBP 0.8777   0.13 -0.76
GBP/USD 1.2347   -0.40 2.07
GBP/EUR 1.1385   -0.13 0.76
*versus Previous Day's European Open

 
 
 
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AIB Economist's Weekly Market View - 31 January 2023
 

The focus of markets is very much on central banks this week, as the US Federal Reserve, Bank of England and European Central Bank all hold their first monetary policy meetings of 2023. All three are set to deliver further increases in interest rates given that inflation remains at very elevated levels. 
 
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Weekly Market Brief: 30 January - 3 February
 

Staying the Course

Markets will be very much focused on central banks in the week ahead, as the US Federal Reserve, Bank of England and European Central Bank hold their first monetary policy meetings of 2023.
 
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