Dear Reader,

 

Today's overview of economic news and market action:

  • Mixed tone to investor sentiment last week …
  • Currency-wise, sterling weakened somewhat, while the dollar strengthened …
  • Sees EUR/USD open back in the lower half of $1.11-1.12 …
  • EUR/GBP is operating near the midpoint of 86-87p … 
  • GBP/USD is back below the $1.29 threshold, having started last week near $1.21 …
  • This week, both the US Fed and ECB are expected to raise rates by 25bps …
  • Very busy data schedule, includes US core-PCE, HICP from large Eurozone economies, and the PMIs …
 
Continue Reading
 
Today's Opening FX Rates
 
      % Change
      Day* End 2022
EUR/USD 1.1123   -0.13 3.93
EUR/GBP 0.8644   -0.03 -2.26
GBP/USD 1.2867   -0.09 6.37
GBP/EUR 1.1566   0.03 2.31
*versus Previous Day's European Open

 
 
 
Weekly Market Brief: 24-28 July
 

Looking Under the Bonnet

 

Recently published National Accounts data by the CSO underline the exceptional performance of the Irish economy in 2021 and 2022, as it rebounded strongly from the COVID-19 pandemic
 
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Weekly Market View
 

Fed’s Last Tango

 

Markets are becoming increasingly confident that the Federal Reserve will manage to engineer a soft landing for the US economy. 
 
Read More
 
Forex and Interest Rate Outlook - July 2023
 

Economic data, especially on labour markets, have generally surprised to the upside in 2023, though GDP growth was sluggish in Q1.

Global economy still facing considerable headwinds  Central banks remain on rate tightening path, though Fed and ECB appear to be nearing end of their hiking cycle. BoE has further to go, with markets pricing in another 150bps of UK rate hikes
 
Read More