Dear Reader,

 

Today's overview of economic news and market action

  • There was a mixed mood on markets yesterday, amid a relatively quiet start to the week …
  • On equity markets, the Euro Stoxx 50 inched 0.1% lower, while the S&P 500 notched a 0.4% gain …
  • On the currency front, the dollar was under some downward pressure yesterday …
  • Elsewhere, the euro was holding a slightly firmer tone …
  • This sees EUR/USD open this morning up near the $1.06 threshold …
  • GBP/USD is up in the top half of $1.26-1.27 …
  • EUR/GBP is just above the halfway mark of 83-84p …
  • Today, the data calendar remains quite sparse on both sides of the Atlantic …
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.0593   0.52 -4.01
EUR/GBP 0.8355   0.14 -3.61
GBP/USD 1.2674   0.36 -0.43
GBP/EUR 1.1962   -0.14 3.75
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
More Economic News
 
 
US Federal Reserve Watch - November 2024
 

The November meeting of the US Federal Reserve Open Market Committee (FOMC) saw the central bank cut interest rates for the second consecutive time. The target range for the Fed funds rate was reduced by 25bps to 4.50-4.75%. The decision by the FOMC to cut rates by 25bps was unanimous, following a split on the FOMC for September’s bumper 50bps cut.
 
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Bank of England Watch - November 2024
 

The November meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank lower Bank rate by 25bps to 4.75%. This was the second rate cut from the Bank of England (BoE) in three meetings. Subsequent to this, the BoE cuts rates for the first time in August, following its rate tightening cycle, which had been in place since the end of 2021.
 
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