Daily Market Comment

27.01.2012

Wednesday’s dovish outlook from the Fed continues to weigh on the dollar, with the euro looking to push towards the $1.32 level yesterday. The Fed’s projections for interest rates show that the majority of FOMC members believe that interest rates should not be increased until well into 2014, which is later than some had anticipated. However, the euro stalled ahead of $1.319 and indeed gave up some of its gains overnight, hit by a fall in general market sentiment, with traders also on alert as Greece prepares to meet again with private sector investors to try and hammer out a debt restructuring deal.

Weekly Market Brief

27.01.2012 WeeklyMarket Brief - 27th January

Schedule of key economic releases and market events for week 30th January - 3rd February

Irish Economy Watch

20.01.2012 Irish Economy Watch - January 2012

Irish Economy Watch highlights the trends in recent Irish economic indicators

Central Bank Watch

12.01.2012 ECB Watch January 2011

As expected, at its policy meeting today, the ECB kept its key refi rate unchanged at 1%. The ECB had cuts rates by 0.25% at each of its two previous monthly policy meetings, fully reversing the two 0.25% rate hikes implemented in April and July of last year. After these two rate cuts, no change was expected today. Today’s decision to keep rates on hold was unanimous. Mr Draghi indicated that in the current very uncertain environment, the ECB will look at all factors and monitor all developments when making its rate decisions. Thus, another rate cut is neither guaranteed nor ruled out, but further weak GDP data could well see the ECB reduce rates by another 0.25%.