Dear Reader,

 

Today's overview of economic news and market action:

  • Marked softening in US market rate expectations last week …
  • US futures softened by circa 30bps on the week …
  • Currency-wise, the main FX pairs were confined to narrow ranges …
  • EUR/USD open near the midpoint of $1.09-1.10 …
  • GBP/USD is operating close to the halfway mark of $1.27-1.28 …
  • EUR/GBP is changing hands just below 86p …
  • Busy UK schedule this week includes labour market and CPI data …
  • In the US retail sales and industrial production feature.
  • ECB meeting minutes also in focus …
 
Continue Reading
 
Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0954   -0.18 -0.74
EUR/GBP 0.8595   0.02 -0.84
GBP/USD 1.2743   -0.23 0.11
GBP/EUR 1.1629   -0.02 0.85
*versus Previous Day's European Open
 
Weekly Market Brief: 15-19 January
 

Further Marked Fall in Inflation Needed for Rate Cuts

 

Further significant declines in headline and core inflation rates look to be in store this spring virtually everywhere, as large price increases a year earlier drop out of the annual comparison.
 
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Forex and Interest Rate Outlook - January
 

World economy grew at a very modest pace in 2023. Subdued growth expected again in 2024, with continuing weak performance by most advanced economies in particular. Inflation fell sharply last year and further moderation in price pressures anticipated in 2024.
 
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AIB Ireland Manufacturing PMI® - December 2023
 

Renewed downturn in manufacturing order books, but business optimism improves slightly

 

The AIB Ireland Manufacturing PMI® pointed to worsening business conditions as 2023 drew to a close, representing a setback after the stabilisation seen during November.
 
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AIB Ireland Services PMI® - December 2023
 

 

Service sector expansion sustained in December as business outlook for 2024 improves

 

The December AIB PMI® survey data signalled a further rise in service sector activity, extending the current growth sequence that began March 2021.
 
Read More