Dear Reader,

 

Today's overview of economic news and market action:

  • Positive tone to sentiment from last week carried over to yesterday’s European session …
  • However, risk appetite soured slightly overnight …
  • This morning, sterling has been holding a firmer tone following the release of UK labour market data …
  • EUR/GBP is back near to the 85p mark …
  • GBP/USD is at the midpoint of $1.26-1.27 …
  • EUR/USD opens in the top half of $1.07-1.08 …
    Later today, the main release will be US CPI inflation for January …
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.077   -0.18 -2.41
EUR/GBP 0.8511   -0.39 -1.81
GBP/USD 1.265   0.18 -0.62
GBP/EUR 1.1741   0.39 1.84
*versus Previous Day's European Open
 
 
AIB Ireland Manufacturing PMI® - January 2024
 

Stronger export sales boost manufacturing production in January

 

Manufacturing output rose to the greatest extent since May 2022, albeit only marginally, accordingly to the latest AIB Ireland Manufacturing PMI®. Production growth was supported by an increase in new work from abroad, alongside efforts to clear backlogs.
 
Read More
 
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