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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Some improvement in risk appetite yesterday
  • Evident in gains on equity markets on both sides of the Atlantic
  • Currency-wise, despite a sparse data calendar, the dollar weakened
  • EUR/USD opens this morning in the upper half of $1.16-1.17
  • BoE policy announcement is in focus today
  • A 25bps rate cut is expected
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1674    0.79 12.76
EUR/GBP 0.8729    0.34  5.51
GBP/USD 1.3367    0.44  6.84
GBP/EUR 1.1449   -0.34 -5.22
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
AIB Irish Ecomeny Update 2025
 
 

The Summer Economic Statement (SES) and National Development Plan (NDP) are key milestones towards Budget 2026. The SES sets out the fiscal boundaries of the Budget 2026 package to be announced in the autumn, while the NDP outlines the Government’s medium-term infrastructure priorities.
 
 
ECB Watch July 2025
 
 

The July ECB Governing Council meeting saw the central bank leave interest rates on hold. The deposit and refi rates were maintained at 2.00% and 2.15%, respectively. This was the first ECB meeting of 2025 where the central bank refrained from lowering rates. However, this outcome was very much in line with market expectations.