Dear Reader,

 

Today's economic news and market action:

  • Slightly upbeat mood on markets yesterday …
  • Currency-wise, the dollar was in the ascendancy …
  • This sees EUR/USD open back below the $1.06 threshold …
  • GBP/USD is operating back near the $1.20 handle …
  • EUR/GBP remains in the lower half of 88-89p …
  • US Core-PCE inflation (Jan) is the main highlight today …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0589   -0.30 -1.06
EUR/GBP 0.8811   0.07 -0.37
GBP/USD 1.2015   -0.36 -0.68
GBP/EUR 1.1342   -0.07 0.37
*versus Previous Day's European Open

 
 
 
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Weekly Market Brief: 6 - 10 February
 

Got Sunshine on a Cloudy Day

The title of the IMF’s recent World Economic Outlook Update sums up the current state of the global economy quite well; “Inflation Peaking amid Low Growth”.
 
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Economist's Weekly Market View - Lagging Behind
 

The UK economy has become a marked underperformer, a record that stretches back to the start of the pandemic in 2020 and Brexit. UK GDP fell by a whopping 11% that year, compared to much smaller declines of 6.3% for the Eurozone and 2.8% in the US. It was hoped that this gap would be closed by a much stronger rebound by the UK economy in 2021-2022.
 
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