Dear Reader,

Today's overview of economic news and market action: 

• Throughout last week, developments regarding US trade policy were to the fore …
• In terms of the few key data releases last week, the monthly UK GDP printed below the consensus …
• Meanwhile, ECB’s Schnabel struck a hawkish tone in remarks last week …
• Currency-wise, the dollar was in the ascendancy for most of last week …
• Elsewhere, the euro was holding a firmer tone on Friday, amid the hawkish remarks from Schnabel …
• However, the euro has started this week on the defensive, owing to the weekend tariff related headlines …
• EUR/USD opens today back below the $1.17 handle ...
• GBP/USD is down near the midpoint of $1.34-1.35 …
• EUR/GBP is operating up in the top half of 86-87p …
• This week, there are busy data schedules in the US and the UK …

All rates quoted are indicative market rates.

Risk appetite improves following significant uncertainty/volatility in the aftermath of “Liberation day” However, there is still limited clarity on the ultimate landing zone for US tariffs. 

As we reach the halfway mark of 2025, the Irish residential property market continues to be defined by a shortfall in supply.