Dear Reader,

 

Today's overview of economic news and market action

  • Quiet start to the week on financial markets …
  • Currency-wise, the main FX pairs were confined to narrow ranges …
  • Of the limited price action, the euro was marginally softer …
  • Sees EUR/USD open today back near the midpoint of $1.08-1.09 …
  • EUR/GBP is changing hands close to the halfway mark of 85-86p …
  • GBP/USD is just above $1.27 …
  • Muted macro calendar on both sides of the Atlantic again today …
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.0856   -0.21 -1.63
EUR/GBP 0.8543   -0.20 -1.44
GBP/USD 1.2709   0.02 -0.16
GBP/EUR 1.1703   0.20 1.46
*versus Previous Day's European Open
 
Weekly Market Brief: 20 - 24 May
 

Data give comfort ahead of June ECB decision

 

With the market leaning towards a June rate cut, the latest inflation and wage data for the Eurozone suggest price pressure continues to ease in line with expectations, building the case for a shift in ECB policy at its next meeting. Friday’s Eurozone inflation release confirms the initial estimate of a 2.4% rise in consumer prices in April.
 
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