Dear Reader,

 

Today's overview of economic news and market action: 

  • There was a somewhat positive tone to risk appetite yesterday …
  • Data-wise, the main release of note - US retail sales - were mixed …
  • Against this backdrop, the dollar was under some downward pressure …
  • In level terms, this sees EUR/USD open up above the $1.09 mark …
  • GBP/USD is operating in the top half of the $1.29-1.30 range …
  • EUR/GBP is changing hands just north of the 84p handle …
  • Today, US industrial production (Feb) is due …
  • German vote on higher fiscal spending & the BoJ policy decision are also in focus …
 
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Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.0916   0.36 5.44
EUR/GBP 0.841   0.04 1.66
GBP/USD 1.2977   0.34 3.72
GBP/EUR 1.1886   -0.04 -1.63
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
More Economic News
 
 
Ireland Construction PMI - February 2025
 

Total activity falls despite slight improvement in new orders. Housing and commercial activity increase. Staffing levels down for first time in six months.
 
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ECB Watch - March 2025
 

The March meeting of the ECB Governing Council saw the central bank cut interest rates for a second consecutive time this year. It reduced them by 25bps, with the Deposit rate lowered to 2.50%, while the Re-fi rate was decreased to 2.65%. This marked the sixth 25bps rate cut since the ECB started its easing cycle last June. 
 
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Irish Economy Watch - February 2025
 
  • Manufacturing PMI rose to 51.3 in January, indicating a first monthly expansion since October
  • The services PMI fell to 53.4 in January, consistent with a slower pace of expansion
  • Retail sales were 0.4% lower YoY in December
  • Housing commencements 12 month running total at 60.6k in January
 
Read More