Dear Reader,

 

Today's overview of economic news and market action:

  • Positive tone to investor sentiment yesterday …
  • Currency-wise, the euro was on the back-foot …
  • Following the release of UK CPI data this morning, sterling has been on the defensive …
  • UK rate hike expectations have softened sharply …
  • EUR/USD is back in the lower half of $1.12-1.13 …
  • GBP/USD is operating down at the halfway mark of $1.29-1.30 …
  • EUR/GBP is trading up at the midpoint of 86-87p …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2022
EUR/USD 1.121   -0.36 4.75
EUR/GBP 0.8651   0.69 -2.18
GBP/USD 1.2955   -1.05 7.09
GBP/EUR 1.1553   -0.68 2.23
*versus Previous Day's European Open

 
 
Weekly Market Brief: 17-21 July
 
 

Holy Grail Coming into View ?

 

Markets are becoming increasingly confident that the Federal Reserve will manage to engineer a soft landing for the US 
 
Read More
 
 
Weekly Market View
 

Fed’s Last Tango

 

Markets are becoming increasingly confident that the Federal Reserve will manage to engineer a soft landing for the US economy. 
 
Read More
 
AIB Ireland Manufacturing PMI® - June
 

Strongest deterioration in Irish manufacturing sector performance for over three years in June

 

Amid ongoing demand weakness, Irish manufacturing firms continued to see a decline in the health of the sector during June.
 
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Forex and Interest Rate Outlook - July 2023
 

Economic data, especially on labour markets, have generally surprised to the upside in 2023, though GDP growth was sluggish in Q1.

Global economy still facing considerable headwinds  Central banks remain on rate tightening path, though Fed and ECB appear to be nearing end of their hiking cycle. BoE has further to go, with markets pricing in another 150bps of UK rate hikes
 
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