Dear Reader,

 

Today's overview of economic news and market action:

  • Investor sentiment holding a risk-off tone yesterday …
  • Against this backdrop, the main FX pairs operated within tight ranges …
  • Of the limited action to register, sterling edged slightly lower …
  • EUR/GBP opens up at the midpoint of 85-86p …
  • GBP/USD remains just below the $1.28 threshold …
  • EUR/USD is in the lower half of $1.09-1.10 …
  • Quiet date schedule ahead again today …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.093   -0.03 2.13
EUR/GBP 0.8547   0.18 -3.36
GBP/USD 1.2786   -0.20 5.70
GBP/EUR 1.1695   -0.18 3.47
*versus Previous Day's European Open

 
 
 
Weekly Market Brief: 19-23 June
 

ECB’s Strong Four-hand

 

The Euro area economy has lost considerable momentum since last summer.
 
Read More
 
ECB Watch - June 2023
 

ECB hikes rates by a further 25bps, but not done yet

 

As had been widely expected, the June meeting of the ECB’s Governing Council saw the central bank raise rates by a further 25bps, pushing the key deposit rate up to 3.5%.
 
Read More
 
Weekly Market View
 

ECB Sticks to the Tightening Script

 

The Euro area economy has lost considerable momentum since last summer. GDP fell by 0.1% in the final quarter of 2022 and again in the opening quarter of 2023, with the economy thus entering a technical recession. 
 
Read More