Dear Reader,

 

Today's overview of economic news and market action:

 

    • Quiet day on financial markets yesterday …
    • Main FX pairs remained range bound …
    • This morning, UK CPI inflation printed well below the consensus …
    • The data has weighed on sterling in early trading …
    • Sees EUR/GBP operating near the midpoint of 86-87p …
    • GBP/USD is down below the halfway mark of $1.23-1.24 also …
    • The focus today though, will be on the US Fed meeting decision, after the close in Europe ….
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0686   0.07 -0.15
EUR/GBP 0.8656   0.34 -2.13
GBP/USD 1.2344   -0.27 2.04
GBP/EUR 1.1547   -0.34 2.17
*versus Previous Day's European Open
 
Weekly Market View
 
 

Markets Expect ECB Rate Cuts in 2024

 

Markets are of the view that we have seen the final ECB rate hike, following last Thursday’s 25bps increase, which brought the key deposit rate up to 4%.
 
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ECB Watch - September 2023
 

ECB Depo rate hits 4%, likely to be the peak

 

The September meeting of the ECB’s Governing Council saw the Central Bank raise rates by a further 25bps, pushing the key deposit rate up to 4.00%.
 
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Weekly Market Brief: 18-22 September
 

Recession Required for Rate Cuts

 

Markets are of the view that we have seen the last ECB rate hike, following Thursday’s 25bps increase, which brought the key deposit rate up to 4%.
 
Read More
 
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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