Dear Reader,
Today's overview of economic news and market action:
- Cautious tone to investor sentiment for much of last week
- On the currency front, the dollar was holding a softer tone
- At the same time, sterling had some upward momentum
- EUR/USD starts this week back up near the midpoint of $1.07-1.08
- GBP/USD opens in the upper half of $1.25-1.26
- EUR/GBP is operating below the 86p mark
- Packed macro diary this week
- Fed and ECB policy meetings take place
- Data-wise, some of highlights include US CPI and UK GDP
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Today's Opening FX Rates
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% Change |
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Day* |
End 2021 |
| EUR/USD |
1.075 |
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-0.21 |
0.45 |
| EUR/GBP |
0.8546 |
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-0.48 |
-3.37 |
| GBP/USD |
1.2575 |
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0.26 |
3.95 |
| GBP/EUR |
1.1698 |
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0.48 |
3.49 |
| *versus Previous Day's European Open |
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AIB Ireland Services PMI® - May
Growth in services activity remains marked
Ongoing demand strength continued to support sustained growth in the Irish service sector during May, according to the latest AIB PMI® survey data. Activity and new business both rose sharply, albeit at rates slightly weaker than seen in April, and business sentiment strengthened on the month.
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Weekly Market Brief: 12-16 June
The Full Picture
The scale of Irish contract manufacturing, whereby a company based in Ireland engages a firm abroad to manufacture products on its behalf, has grown enormously since 2015.
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Weekly Market View
Inflation in Retreat
Inflation is clearly on the wane in Ireland, in line with the trend in most other economies. Preliminary data for May show that prices rose by 0.3% in the month, with the annual rate of HICP inflation falling to 5.4%.
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