Dear Reader,
Today's overview of economic news and market action
- The cautious tone to investor sentiment on financial markets continued yesterday …
- Currency-wise, the dollar maintained the upper hand yesterday …
- Elsewhere, sterling was on the defensive following remarks by BoE Governor Bailey …
- However, sterling moved off its lows overnight …
- GBP/USD opens this morning at the midpoint of the $1.31-1.32 range …
- EUR/GBP is changing hands in the upper half of the 83-84p corridor …
- EUR/USD remains in the lower half of the $1.10-1.11 …
- Today the main release of will be the US labour market report for September …
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Today's Opening FX Rates
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% Change Day* |
End 2023 |
| EUR/USD |
1.1031 |
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-0.02 |
-0.05 |
| EUR/GBP |
0.8385 |
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0.66 |
-3.26 |
| GBP/USD |
1.3153 |
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-0.69 |
3.33 |
| GBP/EUR |
1.1923 |
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-0.66 |
3.38 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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AIB Ireland Services PMI® - September
Irish services activity increased at the strongest rate in six months in September as cost pressures eased, the latest AIB PMI® survey data showed. Growth of both new business and employment moderated, coming in slightly below their long-run trends, but outstanding work increased solidly and the 12-month outlook rebounded since August.
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AIB Ireland Manufacturing PMI® - September
Irish manufacturers experienced another decline in new work during September, driven by the fastest fall in export sales for five months. Subdued customer demand led to a renewed decline in production volumes and cutbacks to staffing numbers.
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Budget 2025
Budget 2025 is set against exceptional budget surpluses. The starting point is a nearly €24bn surplus in 2024, including windfall proceeds from Apple Judgement of €14bn this year. The budget surplus is forecast to be €23.7bn in 2024 (7.5% of GNI*), and €9.7bn in 2025 (2.9% of GNI*). However, excluding windfall receipts, the Government will run significant deficits in the coming years
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