Dear Reader,

 

Today's overview of economic news and market action:

 

  • Despite a cautious tone for parts of last week, equity markets moved higher …
  • 2-year bond yields rose in the US and Eurozone amid some hawkish central bank rhetoric …
  • Currency-wise, sterling and the yen were on the defensive, while the dollar firmed …
  • Sees GBP/USD open back in the lower half of $1.22-1.23 …
  • EUR/GBP is up above the 879 threshold also …
  • EUR/USD IS trading just below the $1.07 threshold …
  • This week, there is a busy data calendar, notably in the UK ….
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0691   0.22 -0.10
EUR/GBP 0.8735   0.11 -1.23
GBP/USD 1.2238   0.11 1.17
GBP/EUR 1.1445   -0.11 1.25
*versus Previous Day's European Open
 
Weekly Market Brief: 13-17 November
 

A Taxing Matter


The last three months have seen much lower than expected Irish corporation tax receipts, which fell by a third, or €2.3 billion, on the corresponding three-month period last year. 
 
Read More
 
 
 
FED Watch - November 2023
 

Fed holds rates steady at 22-year high for second meeting

 

The Fed has enacted 525bps worth of rate increases since it commenced tightening policy in March 2022. The last rate rise came in July, with a 25bps hike.
 
Read More
 
BoE Watch - November
 

BoE holds rates at 5.25% for a second straight meeting


This decision was very much in line with market expectations. It marks the second meeting in-a-row where the BoE has remained on hold. Its previous meeting in September represented its first pause after hiking for fourteen consecutive meetings, dating back to December 2021. 
 
Read More
 
AIB Ireland Services PMI® - October 2023
 

Service sector growth loses further momentum in October

 

Growth of services activity in Ireland was sustained at the start of the final quarter of 2023, according to the latest AIB PMI® survey data. That said, the rate of expansion slowed for the sixth month running and was the second-weakest over the current 32-month upturn.
 
Read More