Dear Reader,
Today's overview of economic news and market action:
- There was a lot for markets to digest last week, which led to volatile trading conditions …
- Overall, there was a cautious tone to investor sentiment …
- Currency-wise, the dollar was underpinned by US tariff related newsflow …
- This sees EUR/USD open today back near $1.04 …
- EUR/GBP is in the top half of the 82-83p band …
- This week, the ECB is expected to cut rates by 25bps once again …
- Eurozone flash HICP inflation and the US labour market report (both Feb) are due …
- Meantime, tariff newsflow and geopolitics will also remain front and centre …
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Today's Opening FX Rates
| |
|
|
% Change Day* |
End 2024 |
| EUR/USD |
1.0412 |
|
0.23 |
0.57 |
| EUR/GBP |
0.8263 |
|
0.13 |
-0.12 |
| GBP/USD |
1.2599 |
|
0.13 |
0.70 |
| GBP/EUR |
1.2099 |
|
-0.13 |
0.12 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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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
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