Good Morning ,

 

Today's overview of economic news and market action:

  • There was a positive tone to risk appetite throughout the European session yesterday …
  • However, this was faded somewhat overnight as US-China trade tensions were in focus …
  • Against this backdrop, the dollar was on the defensive overnight …
  • This sees EUR/USD open today above the midpoint of $1.16-1.17 …
  • GBP/USD is operating north of the $1.34 handle …
  • Elsewhere, EUR/GBP is just below the 87p mark …
  • Today’s data calendar is relatively sparse …
  • Political developments in the US, Japan and France will be in focus …
 
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Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1657   0.34 12.60
EUR/GBP 0.8692   -0.13 5.06
GBP/USD 1.3408   0.45 7.17
GBP/EUR 1.15   0.13 -4.82
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 
 
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The budget, the first of the current Government, contained a package of measures totalling €9.4bn. The Government is providing an additional €8.1bn in spending increases and €1.3bn in tax cuts for next year.
 
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