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Dear Reader,

 

Here is an overview of today's economic news and market action:

  • Positive tone to investor sentiment yesterday …
  • Market rate expectations firmed slightly in the US and Eurozone …
  • Currency-wise, the euro remained under pressure …
  • EUR/USD is in the bottom half of $1.08-1.09 …
  • EUR/GBP is back below the 87p threshold …
  • GBP/USD remains in the top half of $1.24-1.25 …
  • Quiet data schedule ahead again today …
 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0828   -0.32 1.18
EUR/GBP 0.8687   -0.22 -1.78
GBP/USD 1.2461   -0.12 3.01
GBP/EUR 1.1506   0.22 1.81
*versus Previous Day's European Open

 
 
 
 
Decelerating Trend in House Prices to Persist: Weekly Market View
 
 

A notable feature of the Irish housing market over the past 12 months has been a clear decelerating trend in the rate of increase in prices. This is against the backdrop of higher new supply in 2022 and a rising interest rate environment. 
 
 
BoE Watch - May 2023
 
 

BoE hikes by further 25bps to 4.5%, raises growth forecast

 

As expected, the May meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank announce a 25bps rate increase.
 
 
Weekly Market Brief: 8 - 12 May
 
 

The Long March

 

The Bank of England’s latest set of detailed economic forecasts show it is no longer expecting a recession in the UK