Dear Reader,
Today's overview of economic news and market action:
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- Risk appetite continued to deteriorate yesterday …
- Short-dated US Treasury and German Bund yields rose by circa 7bps …
- Currency-wise, the dollar remained in the ascendancy …
- Sees EUR/USD open in the lower half of $1.07-1.08 …
- GBP/USD is back at the $1.25 handle …
- EUR/GBP is operating in the top half of 85-86p …
- Revised reading of Q2 Eurozone GDP, US labour market data and Fed speakers due today …
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0719 |
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-0.14 |
0.16 |
| EUR/GBP |
0.8576 |
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0.47 |
-3.03 |
| GBP/USD |
1.2497 |
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-0.60 |
3.31 |
| GBP/EUR |
1.1655 |
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-0.47 |
3.13 |
| *versus Previous Day's European Open |
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Strong expansion in Ireland's service sector in August
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AIB Ireland Services PMI - August
Strong growth in the Irish service sector was sustained during August with the latest AIB PMI® survey data marking exactly two-and-a-half years of successive monthly improvements in business activity, new business, and employment.
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Weekly Market Brief: 4- 8 September
Payback Time
The National Accounts data from the CSO for H1 2023 show that the rate of growth in the Irish economy has decelerated markedly from the breakneck speed seen in 2021 and 2022.
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Weekly Market View
Downside Risks Still Prevail for Global Economy
Surging inflation combined with a marked tightening of monetary policy, amid an environment of weakening confidence levels and heightened geo-political tensions, especially in relation to Ukraine, saw the world economy slow sharply during 2022. However, concerns that advanced economies could be facing a recession in 2023 have largely abated.
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