Dear Reader,

 

Today's overview of economic news and market action

  • Mixed tone to investor sentiment yesterday …
  • On the currency front, the main FX pairs were confined to tight ranges …
  • Sees EUR/USD open today in the lower half of $1.09-1.10 …
  • GBP/USD is operating in and around the $1.28 threshold …
  • EUR/GBP continues to change hands in the 85-86p range …
  • Today, a busy US data schedule includes retail sales, PPI inflation and initial jobless claims …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0933   0.05 -0.93
EUR/GBP 0.8539   -0.02 -1.49
GBP/USD 1.2799   0.05 0.55
GBP/EUR 1.1705   0.02 1.51
*versus Previous Day's European Open
 
ECB Watch - March 2024
 

The March meeting of the ECB’s Governing Council saw the central bank maintain its key deposit rate at 4%. This outcome was in line with expectations.
 
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Forex and Interest Rate Outlook - March
 

World economy grew at a very modest pace in 2023. Subdued growth expected again in 2024, with continuing weak performance by Eurozone in particular. 


Inflation fell sharply last year and further moderation in price pressures anticipated in 2024.
 
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Weekly Market View - 12 March
 

Summer interest cut signalled by European Central Bank

 

After around two years of aggressive interest rate hikes from the main central banks, monetary policy makers are still on hold and currently deploying a “data-dependent” approach in setting monetary policy. Overall, central banks are waiting for further signs that underlying inflation is on a sustained downward trajectory to give them confidence that it will fall back towards 2% before they will 
contemplate cutting rates. 
 
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Weekly Market Brief: 11 - 15 March
 

Cautious Approach by Central Banks

 

After around two years of aggressive interest rate hikes from the main central banks, monetary policy makers are currently on hold.
 
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