Dear Reader,
Today's overview of economic news and market action:
- There was a mixed mood on markets at the start of the week …
- US tariffs on Canadian, Mexican & Chinese goods took effect overnight …
- Meantime, US data missed to the downside once again yesterday …
- Elsewhere, flash Eurozone HICP inflation printed broadly in-line with expectations …
- Currency-wise, the dollar was under some downward pressure yesterday …
- This sees EUR/USD open this morning in the top half of $1.04-1.05 …
- GBP/USD is changing hands up near the $1.27 handle …
- EUR/GBP continues to operate just north of the midpoint of 82-83p ...
- Today, the main data release will be the Eurozone unemployment rate for January …
- Meantime, President Trump’s speech to a joint session of Congress will garner close attention …
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Today's Opening FX Rates
| |
|
|
% Change Day* |
End 2024 |
| EUR/USD |
1.0483 |
|
0.66 |
1.26 |
| EUR/GBP |
0.8257 |
|
-0.04 |
-0.19 |
| GBP/USD |
1.269 |
|
0.69 |
1.43 |
| GBP/EUR |
1.2105 |
|
0.04 |
0.19 |
| *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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