Dear Reader,
Today's overview of economic news and market action
- Generally uneventful trading yesterday on markets
- Investor sentiment remained cautious
- Currency-wise, the action continued to be within tight ranges
- Dollar registered some marginal gains
- EUR/USD edged back within lower half of $1.08-1.09
- EUR/GBP was mostly confined to a very tight 85.5-85.7p range
- Today’s macro diary includes the second reading of Q4 US GDP
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.082 |
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-0.29 |
-1.96 |
| EUR/GBP |
0.8551 |
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-0.06 |
-1.35 |
| GBP/USD |
1.265 |
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-0.24 |
-0.62 |
| GBP/EUR |
1.1688 |
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0.06 |
1.37 |
| *versus Previous Day's European Open |
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Economist's Weekly Market View
Ireland’s labour market was exceptionally strong at the end of 2023
The headline statistics show employment continued to grow at a robust pace, up 3.4% in the year to Q4 2023, and the seasonally adjusted unemployment rate remains close to historic lows at 4.5%. Over 2.7 million people are now at work in Ireland, helped by an upward revision to the labour force from Census 2022, which bumped up labour force and employment levels.
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Weekly Market Brief: 26 Feb - 1 Mar
Ireland’s Jobs Market in Good Shape
Ireland’s latest labour force survey (LFS) paints a rosey picture of the economy at the end of 2023. Job creation continued to be broad-based, with annual growth in the majority of sectors, led by Education (+12%), Agriculture (+9%), Other Activities (+8%) and Accommodation and Food (+7%).
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ECB Watch - January 2024
ECB on hold for third straight meeting
The first policy setting meeting of the ECB’s Governing Council for 2024 saw the Central Bank maintain its key deposit rate at 4%.
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