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Dear Reader,

 

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

  • Mixed mood on markets to start the week …
  • Main currency pairs operated in very tight ranges yesterday …
  • Sterling was holding a firmer tone, but it has since handed back its gains …
  • EUR/GBP is at the 87p mark …
  • GBP/USD is in the upper half of $1.24-1.25 …
  • EUR/USD remains in the upper half of $1.08-1.09 …
  • US retail sales & industrial production (Apr) are the main highlight today …
 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0864   0.03 1.51
EUR/GBP 0.8708   -0.08 -1.54
GBP/USD 1.2474   0.10 3.12
GBP/EUR 1.1478   0.08 1.56
*versus Previous Day's European Open

 
 
 
 
Decelerating Trend in House Prices to Persist: Weekly Market View
 
 

A notable feature of the Irish housing market over the past 12 months has been a clear decelerating trend in the rate of increase in prices. This is against the backdrop of higher new supply in 2022 and a rising interest rate environment. 
 
 
Weekly Market Brief: 8 - 12 May
 
 

The Long March

 

The Bank of England’s latest set of detailed economic forecasts show it is no longer expecting a recession in the UK
 
 
BoE Watch - May 2023
 
 

BoE hikes by further 25bps to 4.5%, raises growth forecast

 

As expected, the May meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank announce a 25bps rate increase.