Dear Reader,

 

Today's overview of economic news and market action:

 

    • There was a more positive mood on markets yesterday … 
    • Dovish remarks from Fed officials supported the firmer tone to risk appetite …
    • Currency-wise, the dollar fell by circa 0.4% against the euro and sterling …
    • Sees EUR/USD open this morning just above the $1.06 threshold … 
    • GBP/USD is operating up in the top half of $1.22-1.23 … 
    • EUR/GBP remains tightly range bound between 86-87p …
    • Today, US PPI inflation (Sep) and the Fed FOMC Meeting minutes are due …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0604   0.42 -0.92
EUR/GBP 0.8631   -0.06 -2.41
GBP/USD 1.2284   0.47 1.55
GBP/EUR 1.1583   0.06 2.47
*versus Previous Day's European Open
 
Weekly Market Brief: 9-13 October
 
 

The Road to Damascus

 

The ‘higher for longer’ outlook for interest rates has been the key factor behind major movements in financial markets in recent weeks. 
 
Read More
 
 
Weekly Market View - 10 October
 

Inflation on Downward Path

 

The ‘higher for longer’ outlook for interest rates has been the key factor behind the big movements in financial markets in recent weeks. 
 
Read More
 
AIB Irish Services PMI
 

Growth in services activity slowest since start of 2023

 

The latest AIB PMI® survey data signalled sustained growth in the Irish service sector in September, with further solid increases in total activity and new business.
 
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AIB Irish Manufacturing PMIs
 

Renewed downturn in manufacturing performance as lower export sales hit total order books

 

Subdued global demand conditions and customer destocking were factors holding back new business intakes. As a result, export sales resumed their downward trend in September, largely driven by falling spending by European clients.
 
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