Dear Reader,

 

Today's economic news and market action:

  • Generally subdued market action yesterday
  • Quiet data calendar and US market holiday were contributing factors
  • Currency-wise, the dollar is slighlty firmer over the past 24 hours
  • EUR/USD has edged back within the lower half of $1.08-1.09
  • Elsewhere, EUR/GBP opens above the midpoint of 88-89p
  • Busier macro diary today, includes UK labour market updates and German ZEW
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0814   -0.41 1.05
EUR/GBP 0.8869   0.16 0.28
GBP/USD 1.2191   -0.59 0.78
GBP/EUR 1.1268   -0.16 -0.28
*versus Previous Day's European Open

 
 
 
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AIB Economist's Weekly Market View - 17 January 2023
 

Having been very much to the fore for the first three quarters of last year, the dollar lost some ground in the final months of 2022. A perfect storm of rising US interest rates and bond yields, and a surge in commodity prices drove the greenback higher up until around the end of September.
 
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Weekly Market Brief: 16 - 20 January
 

Dollar Losing Some Sparkle...

The coming year seems likely to be characterized by further rate hikes in the opening half of 2023, with monetary policy being put on hold thereafter...
 
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