Dear Reader,
Today's overview of economic news and market action:
- Risk averse tone to investor sentiment last week
- Higher yields weighed on risk appetite
- Disappointing Chinese macro news was also a drag
- Currency-wise, the euro lost ground to sterling and the dollar
- EUR/USD fell below $1.09, EUR/GBP unable to hold above 86p
- Ahead this week, flash PMIs for August will be a key macro highlight
- Monetary policy-wise, ECB ‘minutes’ and Jackson Hole symposium in the US will garner attention
Continue Reading
|
|
|
|
Today's Opening FX Rates
| |
|
% Change |
| |
|
|
Day* |
End 2022 |
| EUR/USD |
1.0877 |
|
-0.05 |
1.64 |
| EUR/GBP |
0.8544 |
|
0.09 |
-3.39 |
| GBP/USD |
1.273 |
|
-0.10 |
5.23 |
| GBP/EUR |
1.1701 |
|
-0.09 |
3.51 |
| *versus Previous Day's European Open |
|
|
|
|
|
| |
|
ECB Watch - July 2023
ECB raises rates again, leaves options open about further hike
As had been well signalled, the July meeting of the ECB’s Governing Council saw the central bank raise rates by a further 25bps, pushing the key deposit rate up to 3.75%
Read More
|
| |
|
Weekly Market View
Sustained uplift in supply still required
Based on underlying demographics, the Irish economy needs at least 30,000 new residential units to be built each year. However, new supply has been running well below this level since 2009, until it jumped sharply to 30,000 units last year.
Read More
|
|
|
|
|
|
