Dear Reader,

Today's overview of economic news and market action

• The relatively quiet start to the week continued yesterday …
• Currency-wise, the main GX pairs remained range bound …
• The dollar initially moved lower before taking the ascendancy after some strong retail sale data …
• However, the greenback softened once again overnight …
• Meantime sterling has been slightly firmer in early trading following the release of UK CPI …
• EUR/GBP is just below 84p …
• EUR/USD is at the $1.09 threshold …
• GBP/USD is in the upper half of the $1.29-1.30 corridor …
• Final reading of EZ HICP and US industrial production due today …

All rates quoted are indicative market rates.

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.