Dear Reader,
Today's overview of economic news and market action:
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- Central bank speakers and inflation data impacted markets yesterday …
- “Less hawkish” central bank rhetoric, and encouraging inflation data led to a softening in rates …
- Market expectations of an ECB rate hike in September declined ….
- Futures are pricing in a lower peak in UK rate also. US rates were more static …
- Against this backdrop, the dollar recouped some of its recent losses …
- Sees EUR/USD open this morning in the lower half of $1.08-1.09 …
- Today, the US labour market report is due …
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Today's Opening FX Rates
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% Change |
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Day* |
End 2022 |
| EUR/USD |
1.0835 |
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-0.75 |
1.24 |
| EUR/GBP |
0.8565 |
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-0.19 |
-3.15 |
| GBP/USD |
1.2647 |
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-0.60 |
4.55 |
| GBP/EUR |
1.167 |
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0.19 |
3.26 |
| *versus Previous Day's European Open |
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Irish Economy Watch - August 2023
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PMI declined to 47.0 in July, as business conditions softened for a fifth consecutive month. New orders, and output fell. Meantime, there was a further easing in price inflation
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Weekly Market Brief: 28 August - 1 September
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
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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