Dear Reader,
Today's overview of economic news and market action:
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- Equity markets maintained upward momentum yesterday …
- Currency-wise, the dollar was in the ascendancy for most of the day …
- However, weaker than anticipated US data weighed heavily on the dollar …
- This sees EUR/USD open this morning in the top half of $1.08-1.09 …
- GBP/USD is changing hands above the $1.26 handle …
- EUR/GBP is trading up at the 86p threshold …
- Today, a busy data schedule includes flash HICP inflation in Spain and Germany …
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0869 |
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0.43 |
1.56 |
| EUR/GBP |
0.8601 |
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0.33 |
-2.75 |
| GBP/USD |
1.2635 |
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0.10 |
4.45 |
| GBP/EUR |
1.1621 |
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-0.33 |
2.83 |
| *versus Previous Day's European Open |
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Irish Economy Watch - August 2023
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PMI declined to 47.0 in July, as business conditions softened for a fifth consecutive month. New orders, and output fell. Meantime, there was a further easing in price inflation
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Weekly Market Brief: 28 August - 1 September
Still Flashing Amber
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
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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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