Dear Reader,

 

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

  • Market sensitivity to macro data continued last week
  • Source this time was higher than expected EZ inflation
  • Reaction included market now expecting 4% peak in ECB depo rate
  • Currency-wise, dollar had a slightly softer tone
  • EUR/USD regained ground in $1.06 territory
  • Elsewhere, EUR/GBP confined to 87.5-89p range
  • Ahead this week some key dollar calendar item
  • Payroll data (Feb) and Fed Chair Powell’s congressional testimony
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0647   0.38 -0.51
EUR/GBP 0.8847   -0.20 0.03
GBP/USD 1.2033   0.59 -0.53
GBP/EUR 1.1298   0.20 -0.03
*versus Previous Day's European Open

 
 
 
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Weekly Market Brief: 6 - 10 March
 

Good Inflation News in Short Supply

Recent inflation data have been disappointing, especially in regard to core measures...
 
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Economist's Weekly Market View - No Let Up in Rate Hikes
 

The shift by central banks to smaller rate hikes is not a signal that monetary tightening is about an end. Central banks have continued to emphasise that the battle to bring inflation back under control and restore price stability is far from won.
 
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February 2023 Manufacturing PMI Report
 

Ireland's manufacturing sector posted in expansion territory in February amid a renewed upturn in new orders and strong growth in workforce numbers.
 
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