Dear Reader,

Here is an overview of today's economic news and market action:

• Subdued tone to sentiment yesterday …
• Euro under some downward pressure amid some soft data…
• EUR/USD opens below the $1.07 threshold …
• GBP/USD is operating up in the top half of $1.23-1.24 …
• EUR/GBP is below the midpoint of 86-87p …
• Flash reading of German, French & Italian inflation due today ….

Simply the Best

The past week saw the CSO publish the Labour Force Survey results for the opening quarter of 2023.

A Rainbow Nation

The CSO published the Labour Force Survey results for the opening quarter of 2023 last week. There is not much evidence in the data of a slowdown in the Irish economy from the breakneck pace seen in 2021 and 2022.

PMI eased back to 48.6 in Apr, indicating a further softening in business conditions. New orders, including exports, and output fell. Meantime, there was a notable easing in inflation Traditional industrial production rose sharply in Mar, leaving it up by 2.3% QoQ and 7% YoY in Q1.