Dear Reader,

 

Today's overview of economic news and market action

  • The mixed mood on markets continued yesterday …
  • Against this backdrop, the main FX pairs were somewhat range bound …
  • Of the limited action to note, sterling was holding a slightly firmer tone …
  • This sees EUR/GBP open down in the lower half of the 83-84p corridor …
  • GBP/USD is operating just above the $1.27 threshold …
  • Elsewhere, EUR/USD is in the top half of the $1.05-1.06 …
  • Already today, UK CPI inflation data for October have printed above the consensus …
  • The remainder of today’s data calendar is without any other top tier data releases …
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.0581   -0.02 -4.12
EUR/GBP 0.8328   -0.29 -3.92
GBP/USD 1.2704   0.29 -0.20
GBP/EUR 1.2006   0.29 4.08
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
More Economic News
 
 
US Federal Reserve Watch - November 2024
 

The November meeting of the US Federal Reserve Open Market Committee (FOMC) saw the central bank cut interest rates for the second consecutive time. The target range for the Fed funds rate was reduced by 25bps to 4.50-4.75%. The decision by the FOMC to cut rates by 25bps was unanimous, following a split on the FOMC for September’s bumper 50bps cut.
 
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Bank of England Watch - November 2024
 

The November meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank lower Bank rate by 25bps to 4.75%. This was the second rate cut from the Bank of England (BoE) in three meetings. Subsequent to this, the BoE cuts rates for the first time in August, following its rate tightening cycle, which had been in place since the end of 2021.
 
View PDF