Dear Reader,

 

Today's overview of economic news and market action

  • There was a somewhat more positive tone to investor sentiment yesterday …
  • Data-wise, the flash readings of both Spanish and German HICP inflation printed below the consensus …
  • In the US, Q2 GDP growth was revised higher, and core-PCE slightly lower …
  • On the currency front, the dollar was in the ascendancy, while the euro was softer …
  • Evidenced by EUR/USD opening today back below $1.11 …
  • GBP/USD is down in the $1.31-1.32 corridor …
  • EUR/GBP is operating closer to the 84p handle …
  • Today, flash Eurozone HICP (Aug) and US core-PCE (Jul) will be in focus …
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.1078   -0.49 0.38
EUR/GBP 0.8407   -0.23 -3.01
GBP/USD 1.3174   -0.27 3.50
GBP/EUR 1.1891   0.23 3.10
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
Irish Economy Watch - August 2024
 

House prices continue to trend sharply higher. They were up 8.6% YoY in June. Consumer prices rose by 0.2% in July, amid further increases in transport and hospitality costs. Revisions to the data show the unemployment rate averaged 4.4% in Q2’24 up from 4.3% in Q1’24. The preliminary reading indicates GDP expanded by 1.2% in Q2’24, but it remained 1.4% lower in YoY terms. 
 
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