Dear Reader,

 

Today's overview of economic news and market action:

  • Risk averse tone intensified yesterday … 
  • Market rate hike expectations hardened, most notably in the UK …
  • On the currency front, the euro was holding a slightly firmer tone …
  • Sees EUR/USD open up just below the $1.09 threshold … 
  • EUR/GBP remains in and around the midpoint of 85-86p … 
  • GBP/USD is operating in the lower half of $1.27-1.28 …
  • Today, the US labour market report (June) is due)
 
Continue Reading
 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0891   0.46 1.77
EUR/GBP 0.8548   0.16 -3.35
GBP/USD 1.2739   0.28 5.31
GBP/EUR 1.1693   -0.16 3.46
*versus Previous Day's European Open

 
 
AIB Ireland Services PMI® - June
 
 

Substantial growth in the Irish service sector in June

 

Supported by buoyant demand conditions, Irish service providers registered another marked improvement in the health of the sector during June, latest AIB PMI® survey data showed
 
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Weekly Market View
 

Challenging outlook for the global economy

 

Rampant inflation, aggressive interest rate hikes by Central Banks and elevated geopolitical tensions saw global economic growth slow notably over the course of 2022. However, looking back over the first six months of 2023, many of the key advanced economies have performed better than anticipated. 
 
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AIB Ireland Manufacturing PMI® - June
 

Strongest deterioration in Irish manufacturing sector performance for over three years in June

 

Amid ongoing demand weakness, Irish manufacturing firms continued to see a decline in the health of the sector during June.
 
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Weekly Market Brief: 3 - 7 July
 

Long and Bumpy Road Ahead

 

 Looking back over the first six months of 2023, many of the key advanced economies have performed better than anticipated.
 
Read More