Dear Reader,
Today's overview of economic news and market action:
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- Positive tone to investor sentiment yesterday
- Reflected in gains on main equity indices
- Currency-wise, action was confined to narrow trading ranges
- Major pairs open this morning very similar to 24 hours earlier
- EUR/USD is near to $1.08, EUR/GBP remains in upper half of 85-86p
- Today’s macro diary is US centric and includes consumer confidence (Aug)
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0815 |
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0.08 |
1.06 |
| EUR/GBP |
0.8567 |
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-0.12 |
-3.13 |
| GBP/USD |
1.2622 |
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0.19 |
4.34 |
| GBP/EUR |
1.1668 |
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0.12 |
3.23 |
| *versus Previous Day's European Open |
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Weekly Market Brief: 28 August - 1 September
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Still Flashing Amber
Surging inflation combined with a marked tightening of monetary policy, amid an environment of weakening confidence levels and heightened geo-political tensions, especially in relation to Ukraine, saw the world economy slow sharply during 2022
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Weekly Market View
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Downside Risks Still Prevail for Global Economy
Surging inflation combined with a marked tightening of monetary policy, amid an environment of weakening confidence levels and heightened geo-political tensions, especially in relation to Ukraine, saw the world economy slow sharply during 2022. However, concerns that advanced economies could be facing a recession in 2023 have largely abated.
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