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Dear Reader,

 

Today's overview of economic news and market action:

 

    • Positive tone to investor sentiment yesterday
    • Reflected in gains on main equity indices
    • Currency-wise, action was confined to narrow trading ranges
    • Major pairs open this morning very similar to 24 hours earlier
    • EUR/USD is near to $1.08, EUR/GBP remains in upper half of 85-86p
    • Today’s macro diary is US centric and includes consumer confidence (Aug)
 
Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0815   0.08 1.06
EUR/GBP 0.8567   -0.12 -3.13
GBP/USD 1.2622   0.19 4.34
GBP/EUR 1.1668   0.12 3.23
*versus Previous Day's European Open

 
 
 
Weekly Market Brief: 28 August - 1 September
 
 

Still Flashing Amber

 

Surging inflation combined with a marked tightening of monetary policy, amid an environment of weakening confidence levels and heightened geo-political tensions, especially in relation to Ukraine, saw the world economy slow sharply during 2022
 
 
Weekly Market View
 
 

Downside Risks Still Prevail for Global Economy

 

Surging inflation combined with a marked tightening of monetary policy, amid an environment of weakening confidence levels and heightened geo-political tensions, especially in relation to Ukraine, saw the world economy slow sharply during 2022. However, concerns that advanced economies could be facing a recession in 2023 have largely abated.