Dear Reader,

 

Today's overview of economic news and market action:

 

    • The risk averse tone from last week persisted in Europe yesterday … 
    • Meantime, medium to long-term sovereign yields rose in the US, Eurozone and UK …
    • Currency-wise, the dollar was in the ascendancy supported by hawkish Fed remarks …
    • Elsewhere, the euro and yen were on the defensive …
    • Sees EU/USD open below $1.06, and USD/JPY above ¥149 … 
    • EUR/GBP remains in the top half of 86-87p … 
    • GBP/USD is down below the $1.22 threshold …
    • US consumer confidence (Sep), and comments from central bank officials due today …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0579   -0.64 -1.15
EUR/GBP 0.8684   -0.15 -1.81
GBP/USD 1.2181   -0.49 0.69
GBP/EUR 1.1512   0.15 1.84
*versus Previous Day's European Open
 
Weekly Market View - 26 September
 
 

Many Headwinds Make for Difficult Landing

 

The latest quarterly update from the OECD on the outlook for the global economy was published last week.
 
Read More
 
 
BoE Watch - September 2023
 

BoE holds rates at 5.25% in finely balanced decision


After fourteen consecutive rate hikes, stretching back to December 2021, yesterday’s meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank leave rates unchanged at 5.25%.
 
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FED Watch - September 2023
 

Fed leaves rates unchanged in a hawkish hold

 

As had been well signalled, the US Fed left official interest rates unchanged at the conclusion of its policy meeting.Thus, the target range for the funds rate remains at 5.25-5.50%. 
 
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Weekly Market Brief: 25-29 September
 

The Real Risk Takers


The latest quarterly update from the OECD on the outlook for the global economy was published in the past week. 
 
Read More