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Dear Reader,

 

Here is an overview of today's economic news and market action:

  • Investor sentiment remained subdued yesterday …
  • Meanwhile, yesterday’s US data dump indicate the economy remains resilient …
  • Against this backdrop, the dollar was holding a firmer tone …
  • Elsewhere, sterling was under some modest pressure …
  • EUR/USD opens back near the midpoint of $1.08-1.09 …
  • GBP/USD is operating back close to the heart of $1.24-1.25 …
  • EUR/GBP is changing hands up above the 87p mark ..
 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0859   -0.20 1.47
EUR/GBP 0.8713   0.31 -1.48
GBP/USD 1.246   -0.52 3.00
GBP/EUR 1.1473   -0.31 1.50
*versus Previous Day's European Open

 
 
 
 
Decelerating Trend in House Prices to Persist: Weekly Market View
 
 

A notable feature of the Irish housing market over the past 12 months has been a clear decelerating trend in the rate of increase in prices. This is against the backdrop of higher new supply in 2022 and a rising interest rate environment. 
 
 
Weekly Market Brief: 8 - 12 May
 
 

The Long March

 

The Bank of England’s latest set of detailed economic forecasts show it is no longer expecting a recession in the UK
 
 
BoE Watch - May 2023
 
 

BoE hikes by further 25bps to 4.5%, raises growth forecast

 

As expected, the May meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank announce a 25bps rate increase.