Dear Reader,

 

Today's overview of economic news and market action:

 

    • Slightly positive tone to investor sentiment yesterday … 
    • EZ inflation fell below the consensus, while US inflation eased in-line with expectations …
    • Currency-wise, the euro was under downward pressure …
    • Sees EUR/USD open near $1.09 … 
    • EUR/GBP is in the lower half of 86-87p … 
    • GBP/USD is changing hands close to the midpoint of $1.26-1.27 …
    • Today, remarks from ECB president Lagarde and Fed Chair Powell will garner attention …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0906   -0.60 1.91
EUR/GBP 0.8626   -0.15 -2.46
GBP/USD 1.264   -0.46 4.49
GBP/EUR 1.1586   0.15 2.53
*versus Previous Day's European Open
 
AIB Ireland Manufacturing PMI® - November 2023
 

Latest survey data from the AIB Ireland Manufacturing PMI® highlighted a stabilisation in overall business conditions, following modest downturns in September and October.
 
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FED Watch - November 2023
 

Fed holds rates steady at 22-year high for second meeting

 

The Fed has enacted 525bps worth of rate increases since it commenced tightening policy in March 2022. The last rate rise came in July, with a 25bps hike.
 
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BoE Watch - November
 

BoE holds rates at 5.25% for a second straight meeting


This decision was very much in line with market expectations. It marks the second meeting in-a-row where the BoE has remained on hold. Its previous meeting in September represented its first pause after hiking for fourteen consecutive meetings, dating back to December 2021. 
 
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Weekly Market Brief: 27 Nov - 1 Dec
 

Best in class

 

This week, the focus will firmly be on inflation in the US, where the latest PCE inflation figures are due for release.
 
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