Dear Reader,
Today's overview of economic news and market action:
- Yesterday’s main macro event saw the ECB cut rates as expected
- However, the ECB was somewhat less dovish in tone
- As a result, market reaction saw the euro make some modest gains
- EUR/USD opens this morning at $1.143, with EUR/GBP near 84.4p
- Today, the focus shifts to the US macro diary and a raft of labour market data
- This includes monthly payroll numbers for May
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Today's Opening FX Rates
| |
|
|
% Change Day* |
End 2024 |
| EUR/USD |
1.1431 |
|
0.20 |
10.41 |
| EUR/GBP |
0.8437 |
|
0.19 |
1.98 |
| GBP/USD |
1.3547 |
|
0.01 |
8.28 |
| GBP/EUR |
1.185 |
|
-0.19 |
-1.94 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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AIB's Economic Outlook May 2025
- Global uncertainty over trade tensions and tariffs expected to slow 2025 and 2026 growth.
- Modified domestic demand growth of 2.3% expected this year.
- Labour market will continue to expand, but jobs growth to ease.
- Consumer spending robust but growth set to moderate as households build savings in uncertain macro environment.
- Theme in Focus:Could Ireland weather a tariff & FDI shock?
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