Dear Reader,
Today's overview of economic news and market action
- Somewhat of a positive tone to investor sentiment yesterday
- Raft of US macro updates surprised to the upside
- However, no noticeable impact on the dollar
- Slightly softer tone to sterling over the past 24 hours
- GBP/USD back below $1.32, EUR/GBP at midpoint of 84-85p
- Ahead today, focus is very much on Fed meeting outcome
- Entails event risk for the dollar
Continue Reading
|
|
|
|
Today's Opening FX Rates
| |
|
|
% Change Day* |
End 2023 |
| EUR/USD |
1.1121 |
|
-0.03 |
0.77 |
| EUR/GBP |
0.845 |
|
0.30 |
-2.51 |
| GBP/USD |
1.316 |
|
-0.33 |
3.39 |
| GBP/EUR |
1.1832 |
|
-0.30 |
2.58 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
|
|
|
|
ECB Watch - September 2024
ECB cuts as expected, but vague guidance on rate outlook
The ECB cut interest rates for a second time this year at the September policy setting meeting of its Governing Council. The Deposit rate was lowered to 3.50%. Meanwhile, the refi rate was cut to 3.65%, which entailed a previously announced technical adjustment of a reduction in the spread between the Depo and Refi rates from 50bps to 15bps.
Read More
|
|
|
|
|
|
|
