Dear Reader,

 

Today's overview of economic news and market action

  • Generally uneventful day on markets yesterday
  • Against the backdrop of a sparse data calendar
  • Currency-wise, the majors were confined to tight ranges
  • Of the limited FX moves to register, the dollar was marginally lower
  • EUR/USD opens this morning up near the midpoint of $1.08-1.09
  • Meanwhile, EUR/GBP remains in the upper half of 85-86p
  • Today’s data highlights are US durable orders (Feb) and consumer confidence (Mar)
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.085   0.28 -1.69
EUR/GBP 0.8573   -0.05 -1.10
GBP/USD 1.2654   0.33 -0.59
GBP/EUR 1.1658   0.05 1.11
*versus Previous Day's European Open
 
 
Irish Economy Watch - March
 

PMI jumped to 52.2 in Feb, its highest level since June 2022. A sharp rise in output and employment, alongside growth in new orders were the key features of the survey.
 
Read More
 
 
Weekly Market Brief - 25-28 March
 

Central Banks and Markets Aligned on Rate Cuts

 

Following a busy week of central bank meetings and major policy changes, policymakers and markets are now more aligned on the outlook for rates in 2024.
 
Read More
 
 
 
Forex and Interest Rate Outlook - March
 

World economy grew at a very modest pace in 2023. Subdued growth expected again in 2024, with continuing weak performance by Eurozone in particular. 


Inflation fell sharply last year and further moderation in price pressures anticipated in 2024.
 
Read More
 
Bank of England Watch - March 2024
 

BoE gradually moving towards cutting interest rates

 

The March meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank keep its key interest rate unchanged at 5.25%. This decision was very much in line with market expectations.
 
Read More
 
Fed Watch - March 2024
 

Fed primed for 75bps of cuts in 2024, starting in summer 

 

The US Federal Reserve Open Market Committee’s second meeting of 2024 saw its key interest rate left on hold last night. The target range for the Fed funds rate remains at 5.25-5.50%, a 22-year high. 
 
Read More