Dear Reader,
Today's overview of economic news and market action:
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- Equity markets higher on both sides of the Atlantic yesterday …
- Currency-wise, the main FX pairs were tightly range bound …
- Sees EUR/USD open this morning near the midpoint of $1.07-1.08 …
- GBP/USD is in the lower half of $1.24-1.26 …
- EUR/GBP is operating in the top half of 85-86p …
- Already this morning, UK labour market data for July have been released …
- Later today, German ZEW and US Small Business Optimism (both Sept) are due …
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0735 |
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0.01 |
0.31 |
| EUR/GBP |
0.8575 |
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0.02 |
-3.04 |
| GBP/USD |
1.2518 |
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-0.01 |
3.48 |
| GBP/EUR |
1.1657 |
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-0.02 |
3.14 |
| *versus Previous Day's European Open |
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Weekly Market View
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Top Dollar
Although the US dollar has retreated from last year’s peaks, which saw it reach its highest point on a trade-weighted basis in 20 years, it has remained at very elevated levels in 2023.
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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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Weekly Market Brief: 11-15 September
Some Buck
Although the US dollar has retreated from last year’s peaks, which saw it reach its highest level on a trade-weighted basis in 20 years, it has remained at very elevated levels in 2023.
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