Dear Reader,

 

Today's overview of economic news and market action

  • More subdued tone to investor sentiment yesterday
  • Data-wise, the closely watched German Ifo for April was ahead of expectations
  • Currency-wise, yen weakness grabbed the headlines
  • USD/JPY pushed above the ¥155 threshold
  • Elsewhere, action has been less eventful
  • EUR/USD has straddled the $1.07 level, EUR/GBP just below 86p
  • Today’s data highlights are US GDP and core-PCE for Q1
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2023
EUR/USD 1.0717   0.13 -2.89
EUR/GBP 0.8584   -0.13 -0.97
GBP/USD 1.2483   0.22 -1.93
GBP/EUR 1.1644   0.13 0.98
*versus Previous Day's European Open
 
 
Irish Economy Watch - April
 

PMI fell to 49.6 in Mar. The slight decline reflected a fall in new business and output and a sharp drop in sentiment. Meantime, inflationary pressures in the sector continued to build
 
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ECB Watch - April 2024
 

ECB signals June rate cut on the cards


As widely anticipated, the ECB’s Governing Council meeting for April saw the central bank maintain its key deposit rate at 4%. It marked the fifth consecutive policy meeting that the ECB has kept rates unchanged. There was “consensus” rather than unanimity within the Governing Council on the decision.
 
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Weekly Market Brief : April 22 - 26
 

Geopolitical Tension to the Fore Once Again

 

This week was very much characterised by “risk-off” sentiment in markets, as rising geopolitical tensions boosted safe haven assets. 
 
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