Dear Reader,

 

Today's economic news and market action:

  • Looking back over February, there was some notable market moves
  • A key feature was a clear firming in rate hike expectations
  • Occurred against backdrop of encouraging data, higher inflation and hawkish central banks
  • Currency-wise, the dollar came back into the ascendancy
  • At the same time, euro lost some ground to sterling
  • EUR/USD starts the month of March down at $1.06
  • EUR/GBP opens this morning at 88p
  • Today’s macro highlights are German inflation and US manufacturing ISM
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0611   0.26 -0.85
EUR/GBP 0.88   0.13 -0.50
GBP/USD 1.2055   0.12 -0.35
GBP/EUR 1.1358   -0.12 0.50
*versus Previous Day's European Open

 
 
 
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Economist's Weekly Market View - No Let Up in Rate Hikes
 

The shift by central banks to smaller rate hikes is not a signal that monetary tightening is about an end. Central banks have continued to emphasise that the battle to bring inflation back under control and restore price stability is far from won.
 
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Weekly Market Brief: 27 Feb - 3 Mar
 

Keep on Rocking in the Rate World

The shift by central banks to smaller rate hikes is not a signal that monetary tightening is about an end.
 
Read More
 
February 2023 Manufacturing PMI Report
 

Ireland's manufacturing sector posted in expansion territory in February amid a renewed upturn in new orders and strong growth in workforce numbers.
 
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