Dear Reader,

 

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

  • Quiet start to the week on markets …
  • Bank Holiday in the US and UK contributed to the lacklustre price action ...
  • Risk averse tone to investor sentiment in Europe, with the Euro Stoxx 50 down 0.4% …
  • Euro under some modest downward pressure …
  • Sees EUR/USD open back below the $1.07 threshold …
  • EUR/GBP has edged lower within the 86-87p corridor …
  • GBP/USD is in the bottom half of $1.23-1.24 …
  • Eurozone EC sentiment indices, Flash Spanish Inflation, and US consumer confidence (all May) due today …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0686   -0.45 -0.15
EUR/GBP 0.8665   -0.28 -2.02
GBP/USD 1.233   -0.20 1.93
GBP/EUR 1.1537   0.28 2.07
*versus Previous Day's European Open

 
 
 
Irish Economy Watch - May 2023
 

PMI eased back to 48.6 in Apr, indicating a further softening in business conditions. New orders, including exports, and output fell. Meantime, there was a notable easing in inflation Traditional industrial production rose sharply in Mar, leaving it up by 2.3% QoQ and 7% YoY in Q1.
 
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Weekly Market View
 

A Rainbow Nation

 

The CSO published the Labour Force Survey results for the opening quarter of 2023 last week. There is not much evidence in the data of a slowdown in the Irish economy from the breakneck pace seen in 2021 and 2022.
 
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Weekly Market Brief: 29 May - 2 June
 

Simply the Best

 

The past week saw the CSO publish the Labour Force Survey results for the opening quarter of 2023.
 
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