Dear Reader,

 

Today's overview of economic news and market action

  • Equity markets moved lower on both sides of the Atlantic yesterday …
  • Currency-wise, the dollar was under some downward pressure …
  • Meantime, the yen rose sharply amid speculation of further intervention to support the currency …
  • USD/JPY opens down in the ¥156-157 range …
  • EUR/USD is above $1.09 …
  • GBP/USD is operating just below $1.30 …
  • EUR/GBP remains in and around 84p …
  • Later today, the ECB is expected to leave monetary policy on hold …
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.0929   0.24 -0.97
EUR/GBP 0.8411   0.05 -2.96
GBP/USD 1.2991   0.19 2.06
GBP/EUR 1.1882   -0.05 3.06
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
Weekly Market Brief: 15 - 19 July
 

Goldilocks? Government sets Budget parameters

 

The recently released Summer Economic Statement set the boundaries for the upcoming Irish Budget in October, with the Government announcing a planned budget day package of €8.3bn (3% of GNI*). The majority of this is for spending measures (€6.9bn) with the remainder (€1.4bn) expected to fund income tax cuts.
 
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