Daily Market Comment

03.09.2010

Currencies are trading in tight ranges as market participants take to the sidelines ahead of this afternoon’s key US non-farm payrolls report for August. With risk appetite supported by some encouraging data over recent days the euro and high yielding currencies are holding onto gains versus the dollar and yen seen earlier in the week ahead of the release, though sentiment remains fragile. Consensus forecasts are showing a drop of 100,000 in the payroll, as the layoff of temporary census workers continues, with the unemployment rate projected to tick up marginally to 9.6% from 9.5%. Anything worse than this could weigh heavily on sentiment, which would not favour the euro.

Weekly Market Brief

27.08.2010 WEEKLY MARKET BRIE F- 27TH AUGUST 2010

Key Data for Week 30th August - 3rd September 2010

Irish Economy Watch

12.08.2010 Irish Economy Watch - August 2010

Irish Economy Watch highlights the trends in recent Irish economic indicators

Central Bank Watch

02.09.2010 ECB Watch September 2010

At its policy meeting today, the European Central Bank again left its refi rate unchanged at 1%, where it has been pitched since May 2009. Despite the fact that recent data have surprised on the upside, with Q2 GDP growing by 1%, the ECB still expects that economic growth will be moderate with uncertainty still prevailing in the period ahead, suggesting that interest rates will remain low. In this regard, Mr Trichet repeated again today that the refi rate is at an appropriate level, suggesting that the ECB is not considering changing rates any time soon.