Dear Reader,

 

Today's overview of economic news and market action

  • Equity markets moved lower on both sides of the Atlantic yesterday …
  • US GDP growth slowed and inflation rose by more than anticipated in Q1 …
  • Currency-wise, there was some dollar volatility yesterday …
  • Elsewhere, the eyen was weakened further as the BoJ left policy unchanged …
  • EUR/USD opens this morning in the lower half of $1.07-1.08 …
  • GBP/USD is up above $1.25 …
  • EU/GBP is in the top half of 85-86p …
  • USD/JPY is above ¥156 …
  • Today, the March reading of US core-PCE inflation is due …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2023
EUR/USD 1.0732   0.21 -2.75
EUR/GBP 0.8575   -0.16 -1.07
GBP/USD 1.2509   0.34 -1.73
GBP/EUR 1.1655   0.16 1.08
*versus Previous Day's European Open
 
Irish Economy Watch - April
 

PMI fell to 49.6 in Mar. The slight decline reflected a fall in new business and output and a sharp drop in sentiment. Meantime, inflationary pressures in the sector continued to build
 
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ECB Watch - April 2024
 

ECB signals June rate cut on the cards


As widely anticipated, the ECB’s Governing Council meeting for April saw the central bank maintain its key deposit rate at 4%. It marked the fifth consecutive policy meeting that the ECB has kept rates unchanged. There was “consensus” rather than unanimity within the Governing Council on the decision.
 
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