Dear Reader,

 

Today's economic news and market action:

  • Generally upbeat mood to investor sentiment last week
  • Reflected in gains of 1.5-2.5% for some of the key equity indices
  • Currency-wise, majors confined to relatively narrow ranges
  • EUR/USD starts this week at midpoint of $1.08 -1.09
  • EUR/GBP is trading in the upper half of 87-88p
  • Big week ahead for central banks and data 
  • Diary includes Fed, ECB, BoE meetings as well as US payrolls
  • Packed diary provides some event risk for markets
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0856   -0.15 1.44
EUR/GBP 0.8771   -0.10 -0.83
GBP/USD 1.2372   -0.07 2.27
GBP/EUR 1.1394   0.10 0.83
*versus Previous Day's European Open

 
 
 
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AIB Economist's Weekly Market View - 24 January 2023
 

The World Bank, in its latest Global Economic Prospects report released earlier this month, warned that the global economy is perilously close to falling into recession this year. It said the world economy could register one of the weakest rates of growth seen in recent decades in 2023, following a year of very high inflation, worsening financial conditions and Russia’s invasion of Ukraine.
 
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Weekly Market Brief: 30 January - 3 February
 

Staying the Course

Markets will be very much focused on central banks in the week ahead, as the US Federal Reserve, Bank of England and European Central Bank hold their first monetary policy meetings of 2023.
 
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