Dear Reader,

 

Today's economic news and market action:

  • European session somewhat subdued yesterday … 
  • Overnight, the Fed hiked interest rates by 25bps …
  • Dollar, which was already on the defensive, fell further …
  • Sees EUR/USD open today at the $1.10 threshold …
  • GBP/USD is above the midpoint of $1.23-1.24 …
  • EUR/GBP is operating in the top half of 88-89p …
  • Today, both the ECB & BoE expected to hike rates by 50bps …
  • The meetings pose event risk for the euro and sterling …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.1001   1.20 2.79
EUR/GBP 0.888   0.61 0.41
GBP/USD 1.2386   0.59 2.39
GBP/EUR 1.1255   -0.61 -0.41
*versus Previous Day's European Open

 
 
 
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AIB Economist's Weekly Market View - 31 January 2023
 

The focus of markets is very much on central banks this week, as the US Federal Reserve, Bank of England and European Central Bank all hold their first monetary policy meetings of 2023. All three are set to deliver further increases in interest rates given that inflation remains at very elevated levels. 
 
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Weekly Market Brief: 30 January - 3 February
 

Staying the Course

Markets will be very much focused on central banks in the week ahead, as the US Federal Reserve, Bank of England and European Central Bank hold their first monetary policy meetings of 2023.
 
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