Not displaying correctly?
Read in web browser

Dear Reader,

 

Today's overview of economic news and market action: 

 

  • There was a cautious mood on markets last week …
  • Bond market volatility and a weak US labour market report impacted sentiment …
  • Currency-wise, the dollar was in the ascendancy in the early part of last week …
  • However, it was on the back-foot in the aftermath of the weak US payrolls report …
  • This sees EUR/USD open today in the lower half of $1.17-1.18 …
  • GBP/USD is at the $1.35 handle …
  • EUR/GBP is in the top half of 86-87p …
  • This week, the ECB is widely expected to leave rates unchanged …
  • US CPI inflation (Aug) is due. While the no-confidence vote in France will be in focus …
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1716        0.43 13.14
EUR/GBP 0.8674        0.02  4.85
GBP/USD 1.3497        0.36 7.88
GBP/EUR 1.1518        -0.02 -4.62
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
Irish Economy Watch August 2025
 
 

Manufacturing PMI stayed firmly in expansion mode at 53.2 in July, The services PMI eased further in July to 50.9, Core retail sales rose by 1.0% in the second quarter, Housing commencements 12 month running total back below 41k in June.

 
 
 
ECB Watch July 2025
 
 

The July ECB Governing Council meeting saw the central bank leave interest rates on hold. The deposit and refi rates were maintained at 2.00% and 2.15%, respectively. This was the first ECB meeting of 2025 where the central bank refrained from lowering rates. However, this outcome was very much in line with market expectations.