Dear Reader,

 

Today's overview of economic news and market action:

 

    • Quiet start to the week on markets yesterday
    • Investor sentiment was holding a cautious tone
    • Amid key central bank events due later this week
    • Currency-wise, main pairs were within narrow ranges 
    • EUR/USD continued to trade near to the midpoint of $1.06-1.07 
    • EUR/GBP remained close to the 86p threshold
    • Today’s macro data diary is lacking in top tier releases
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0678   0.10 -0.22
EUR/GBP 0.8625   0.23 -2.48
GBP/USD 1.2379   -0.14 2.33
GBP/EUR 1.1589   -0.23 2.54
*versus Previous Day's European Open
 
Weekly Market View
 
 

Markets Expect ECB Rate Cuts in 2024

 

Markets are of the view that we have seen the final ECB rate hike, following last Thursday’s 25bps increase, which brought the key deposit rate up to 4%.
 
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ECB Watch - September 2023
 

ECB Depo rate hits 4%, likely to be the peak

 

The September meeting of the ECB’s Governing Council saw the Central Bank raise rates by a further 25bps, pushing the key deposit rate up to 4.00%.
 
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Weekly Market Brief: 18-22 September
 

Recession Required for Rate Cuts

 

Markets are of the view that we have seen the last ECB rate hike, following Thursday’s 25bps increase, which brought the key deposit rate up to 4%.
 
Read More
 
Strong expansion in Ireland's service sector in August
 

AIB Ireland Services PMI - August

Strong growth in the Irish service sector was sustained during August with the latest AIB PMI® survey data marking exactly two-and-a-half years of successive monthly improvements in business activity, new business, and employment.
 
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