Dear Reader,

 

Today's overview of economic news and market action

  • Quiet day on markets in the run-up to the Fed meeting outcome …
  • As expected, the Fed left policy on hold …
  • US futures contracts softened slightly following the press conference …
  • Against this backdrop, the dollar was under some downward pressure …
  • Sees EUR/USD open above the $1.09 mark …
  • GBP/USD us changing hands up at the $1.28 handle …
  • EUR/GBP remains near the midpoint of 85-86p …
  • Today, the monetary policy spotlight shifts to the BoE …
  • Data-wise, the flash PMIs for the US, Eurozone and UK (Mar) are due …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0938   0.67 -0.89
EUR/GBP 0.8544   0.04 -1.43
GBP/USD 1.2799   0.63 0.55
GBP/EUR 1.1697   -0.04 1.45
*versus Previous Day's European Open
 
 
Forex and Interest Rate Outlook - March
 

World economy grew at a very modest pace in 2023. Subdued growth expected again in 2024, with continuing weak performance by Eurozone in particular. 


Inflation fell sharply last year and further moderation in price pressures anticipated in 2024.
 
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ECB Watch - March 2024
 

The March meeting of the ECB’s Governing Council saw the central bank maintain its key deposit rate at 4%. This outcome was in line with expectations.
 
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Weekly Market Brief: 18 -22 March
 

Inflation Data Dampen Rate Cut Expectations


This week is set to be an important period for markets as three key central banks (Fed, BoJ, BoE) announce monetary policy decisions.
 
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