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Dear Reader,

 

Today's overview of economic news and market action:

  • Investor sentiment turned positive yesterday …
  • Data-wise, Eurozone inflation slowed by more than expected …
  • There were also signs of a further easing in US price pressures …
  • Meanwhile, US rate hike expectations have softened …
  • This sees EUR/USD open this morning up in the top half of $1.07-1.08 …
  • GBP/USD is trading north of $1.25 …
  • EUR/GBP remains below 86p …
  • US labour market report (May) due today, and could impact the dollar …
 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.077   0.83 0.64
EUR/GBP 0.8588   -0.02 -2.89
GBP/USD 1.254   0.87 3.66
GBP/EUR 1.1641   0.02 2.98
*versus Previous Day's European Open

 
 
 
 
AIB Ireland Manufacturing PMI® - May
 
 

Irish manufacturing conditions deteriorate at sharpest pace for three years in May

 

Weighed down by sharper falls in output and new orders, Ireland’s manufacturing sector remained rooted in a downturn in May.
 
 
Weekly Market Brief: 29 May - 2 June
 
 

Simply the Best

 

The past week saw the CSO publish the Labour Force Survey results for the opening quarter of 2023.
 
 
Weekly Market View
 
 

A Rainbow Nation

 

The CSO published the Labour Force Survey results for the opening quarter of 2023 last week. There is not much evidence in the data of a slowdown in the Irish economy from the breakneck pace seen in 2021 and 2022.