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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • There was a cautious and subdued mood on markets last week …
  • French political turbulence and tensions between the Fed & White House were in focus …
  • Currency-wise, the main FX pairs operated in relatively narrow ranges throughout the week …
  • As trading gets underway this morning, EUR/USD is in the lower half of $1.17-1.18 ...
  • EUR/GBP is changing hands above the midpoint of 86-87p …
  • Elsewhere, GBP/USD is in the bottom half of $1.35-1.36 …
  • This week, the US labour market report for August will be the main highlight …
  • Eurozone flash HICP inflation (Aug) and unemployment rate (Jul) will feature …
  • In the UK, Governor Bailey and other BoE officials speak at the Treasury Select Committee …

 
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.173       0.57 13.30
EUR/GBP 0.8664       0.32  4.73
GBP/USD 1.3536      -0.26  8.19
GBP/EUR 1.1539      -0.32 -4.51
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
Irish Economy Watch August 2025
 
 

Manufacturing PMI stayed firmly in expansion mode at 53.2 in July, The services PMI eased further in July to 50.9, Core retail sales rose by 1.0% in the second quarter, Housing commencements 12 month running total back below 41k in June.

 
 
 
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.