Dear Reader,

 

Today's economic news and market action:

  • Busy day yesterday on the data front
  • Raft of US data, including retail sales and industrial production
  • Currency-wise, sterling was on the defensive
  • EUR/GBP moved up nearer to 89p
  • GBP/USD fell back below $1.21
  • Elsewhere, EUR/USD traded near to $1.07
  • Today’s macro releases are mostly from the US
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0704   -0.10 0.02
EUR/GBP 0.8883   0.75 0.44
GBP/USD 1.2047   -0.83 -0.41
GBP/EUR 1.125   -0.74 -0.44
*versus Previous Day's European Open

 
 
 
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Weekly Market Brief: 6 - 10 February
 

Got Sunshine on a Cloudy Day

The title of the IMF’s recent World Economic Outlook Update sums up the current state of the global economy quite well; “Inflation Peaking amid Low Growth”.
 
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Economist's Weekly Market View - Back to the Future
 

Is the soft landing for the US economy, that even the US Federal Reserve had doubts could be achieved, coming into view for 2023? US Treasury Secretary, Janet Yellen, seems to think so, cementing last week that she sees a path in which the US economy avoids recession, helped by a significant decline in inflation and a strong labour market.
 
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