Dear Reader,

 

Today's overview of economic news and market action

  • There was a subdued start to the week on financial markets yesterday …
  • Both the Euro Stoxx 50 and the S&P 500 maintained their poor momentum from last week, falling by 0.5% and 0.3% …
  • On the currency front, the main pairs remained relatively range bound …
  • Overnight the dollar registered some marginal gains …
  • This sees EUR/USD open today back below the $1.09 threshold ….
  • GBP/USD is back near the midpoint of $1.29-1.30 …
  • EUR/GBP remains in and around the 84p handle …
  • Today, the US non-manufacturing ISM (Oct) is unlikely to move the needle …
  • Focus will remain on the US elections as voting draws to a close, suggesting the subdued mood on markets will continue …
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.0877   -0.20 -1.44
EUR/GBP 0.8391   0.04 -3.20
GBP/USD 1.2958   -0.26 1.80
GBP/EUR 1.1909   -0.04 3.30
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
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