Dear Reader,

 

Today's overview of economic news and market action

  • Investor sentiment remained in a cautious mood yesterday
  • S&P 500 posted its fourth straight daily fall
  • Currency-wise, the dollar moved back from its recent highs
  • EUR/USD opens this morning back in the upper half of $1.06-1.07
  • Meanwhile, EUR/GBP remains within 85-86p
  • Today’s macro data highlights are all US based
  • They include weekly jobless claims and existing home sales
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2023
EUR/USD 1.0687   0.60 -3.16
EUR/GBP 0.8561   0.18 -1.23
GBP/USD 1.248   0.43 -1.96
GBP/EUR 1.1673   -0.18 1.25
*versus Previous Day's European Open
 
 
ECB Watch - April 2024
 

ECB signals June rate cut on the cards


As widely anticipated, the ECB’s Governing Council meeting for April saw the central bank maintain its key deposit rate at 4%. It marked the fifth consecutive policy meeting that the ECB has kept rates unchanged. There was “consensus” rather than unanimity within the Governing Council on the decision.
 
Read More
 
Economist's Weekly Market View : ECB’s dovish hold sets the stage for June cut
 

While markets were largely unmoved by the ECB’s monetary policy statement last Thursday, the tone of the statement and President Lagarde’s press conference was very much a dovish one. This subtle shift in tone is an important scene setter as the ECB nears a likely first cut in June.
 
Read More
 
Weekly Market Brief : April 15 - 19
 

ECB’s Dovish Hold Sets the Stage for June Cut

 

While markets were largely unmoved by the ECB’s latest monetary policy statement, the tone of the statement and President Lagarde’s press conference was very much a dovish one.
 
Read More