Dear Reader,

 

Today's overview of economic news and market action

  • Investor sentiment continued to hold a cautious tone yesterday …
  • Meantime, US retail sales data printed above the consensus for March …
  • Against this backdrop, the dollar remained to the fore on currency markets ….
  • Sees EUR/USD open at a fresh YTD low down at $1.06 …
  • GBP/USD is back in the lower half of $1.24-1.25 band …
  • USD/JPY is up above ¥154 …
  • EUR/GBP remains near the midpoint of the 85-86p range …
  • Later today, US industrial production data for March are due …
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2023
EUR/USD 1.0606   -0.42 -3.90
EUR/GBP 0.854   -0.08 -1.48
GBP/USD 1.2416   -0.35 -2.46
GBP/EUR 1.1704   0.08 1.50
*versus Previous Day's European Open
 
 
Economist's Weekly Market View : ECB’s dovish hold sets the stage for June cut
 

While markets were largely unmoved by the ECB’s monetary policy statement last Thursday, the tone of the statement and President Lagarde’s press conference was very much a dovish one. This subtle shift in tone is an important scene setter as the ECB nears a likely first cut in June.
 
Read More
 
 
Weekly Market Brief : April 15 - 19
 

ECB’s Dovish Hold Sets the Stage for June Cut

 

While markets were largely unmoved by the ECB’s latest monetary policy statement, the tone of the statement and President Lagarde’s press conference was very much a dovish one.
 
Read More
 
 
 
Bank of England Watch - March 2024
 

BoE gradually moving towards cutting interest rates

 

The March meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank keep its key interest rate unchanged at 5.25%. This decision was very much in line with market expectations.
 
Read More
 
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.
 
Read More
 
Irish Economy Watch - March
 

PMI jumped to 52.2 in Feb, its highest level since June 2022. A sharp rise in output and employment, alongside growth in new orders were the key features of the survey.
 
Read More