Dear Reader,

 

Today's overview of economic news and market action

  • Trading conditions remained relatively subdued yesterday ….
  • The Euro Stoxx 50 gained 0.4%, while the S&P 500 edged 0.1% lower …
  • Currency markets remained range bound …
  • EUR/USD opens at the midpoint of 85-86p …
  • GBP/USD is changing hands in the top half of $1.26-1.27 …
  • EUR/USD is near the halfway mark of $1.08-1.09 …
  • Eurozone producer prices (Jan) and the US non-manufacturing ISM (Feb) due todays
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0843   0.00 -1.75
EUR/GBP 0.8554   -0.09 -1.32
GBP/USD 1.2674   0.10 -0.43
GBP/EUR 1.1684   0.09 1.33
*versus Previous Day's European Open
 
AIB Ireland Services PMI® - February 2024
 

Service sector growth and inflation strengthen in February

 

The latest AIB PMI® survey data indicated resurgent service sector growth in February, accompanied by rising price pressures. Total activity and new business both rose at the fastest rates since last September, driving the sharpest rate of job creation for eight months.
 
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AIB Ireland Manufacturing PMI® - February 2024
 

The latest AIB Ireland Manufacturing PMI® survey indicated strengthening business conditions, with production growth accelerating to the highest for 22 months amid a renewed improvement in order books. Staffing numbers also expanded in February as manufacturers sought to boost production schedules and support long-term business development plans.
 
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Weekly Market Brief: 4 - 8 March
 

Ireland’s Volatile Growth Metrics

 

Ireland’s latest national accounts data for Q4 2023 reveal a sharp fall in growth, with GDP declining by 3.2% in 2023, revised down from a provisional estimate of -1.9%. 
 
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ECB Watch - January 2024
 

ECB on hold for third straight meeting

 

The first policy setting meeting of the ECB’s Governing Council for 2024 saw the Central Bank maintain its key deposit rate at 4%.
 
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