Dear Reader,

 

Today's overview of economic news and market action

  • Positive tone to investor sentiment yesterday …
  • Meantime, market rate expectations continue to harden …
  • Current pricing suggests rate cuts worth 90bps in EZ, 80bps in US and 60bps in UK by year end …
  • Currency-wise, the euro was holding a firmer tone. However, it was unable to hold onto its gains …
  • EUR/USD opens today in the lower half of $1.08-1.09 …
  • GBP/USD is in the top half of $1.26-1.27 …
  • EUR/GBP is at the midpoint of 85-86p …
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0825   -0.06 -1.91
EUR/GBP 0.8548   -0.21 -1.38
GBP/USD 1.266   0.13 -0.54
GBP/EUR 1.1691   0.21 1.40
*versus Previous Day's European Open
 
 
AIB Ireland Services PMI® - January 2024
 

Service sector growth slows to near-three year low

 

The first batch of AIB PMI® survey data for 2024 signalled a loss of momentum in Irish service sector activity, albeit still extending the current growth sequence that began in March 2021. Rates of expansion in total activity and new business both slowed on the month, with the former rising at the weakest pace in the current upturn.
 
Read More
 
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%.
 
Read More
 
Weekly Market View - 20 February
 

The UK economy stuck in stagnation

 

A plethora of UK data last week provided conflicting evidence on the strength of the economy of late. For the optimists, continuing strength in the labour market and solid retail sales figures for January suggest the UK consumer is recovering some momentum. However, sticky inflation and moribund GDP growth point to a wider malaise in the UK economy.
 
Read More