Dear Reader,

 

Today's overview of economic news and market action

  • Softer tone to risk appetite last week, with the S&P 500 falling by 3% …
  • Heightened geopolitical tensions, remarks from central bankers and data releases impacted sentiment …
  • Currency-wise, the dollar was in the ascendancy initially …
  • However, as the week progressed, the dollar handed back its gains …
  • Sterling was on the defensive at the end of the week …
  • Sees EUR/GBP start today above 86p …
  • EUR/USD is near the midpoint of $1.06-1.07 …
  • This week, the focus will be on US GDP for Q1 and the March reading of core-PCE inflation …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2023
EUR/USD 1.0663   0.28 -3.38
EUR/GBP 0.8609   0.56 -0.68
GBP/USD 1.238   -0.30 -2.74
GBP/EUR 1.1606   -0.56 0.69
*versus Previous Day's European Open
 
 
Irish Economy Watch - April
 

PMI fell to 49.6 in Mar. The slight decline reflected a fall in new business and output and a sharp drop in sentiment. Meantime, inflationary pressures in the sector continued to build
 
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ECB Watch - April 2024
 

ECB signals June rate cut on the cards


As widely anticipated, the ECB’s Governing Council meeting for April saw the central bank maintain its key deposit rate at 4%. It marked the fifth consecutive policy meeting that the ECB has kept rates unchanged. There was “consensus” rather than unanimity within the Governing Council on the decision.
 
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Weekly Market Brief : April 22 - 26
 

Geopolitical Tension to the Fore Once Again

 

This week was very much characterised by “risk-off” sentiment in markets, as rising geopolitical tensions boosted safe haven assets. 
 
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