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Dear Reader,

 

Today's overview of economic news and market action:

  • Positive tone to investor sentiment yesterday … 
  • A slew of US data printed above expectations yesterday …
  • Meantime, ECB president Lagarde reiterated the central bank will raise rates again in July …
  • EUR/USD opens up at the midpoint of $1.09-1.10 …
  • EUR/GBP is operating near the 86p mark …
  • EUR/JPY is at the halfway mark of ¥157-157, having reached a 15 year high overnight …
  • GBP/USD remains in the $1.27-1.28 range …
  • Today, a panel discussion between the heads of the ECB, Fed, BoE and BoJ will be in focus …
 
Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0945   0.20 2.27
EUR/GBP 0.8595   0.19 -2.82
GBP/USD 1.2729   0.00 5.22
GBP/EUR 1.1629   -0.19 2.90
*versus Previous Day's European Open

 
 
 
 
Weekly Market Brief: 26-30 June
 
 

Higher and Higher

 

Inflation remains a key aspect of the discourse on the global economic outlook and the trajectory of interest rates.
 
 
Bank of England Watch - June 2023
 
 

BoE hikes by 50bps to 5% and retains bias to do more

 

The June meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank announce a 50bps rate increase. 
 
 
Irish Economy Watch - June 2023
 
 

PMI declined to 47.5 in May, indicating a further softening in business conditions. New orders, and output fell. Meantime, there was a further notable easing in inflation