Dear Reader,

 

Today's overview of economic news and market action

  • Generally subdued start to the week yesterday
  • Investor sentiment was holding a cautious tone
  • The macro diary had no impact on currency markets
  • As a result, the majors were confined to narrow ranges
  • EUR/USD opens this morning in the upper half of $1.11-1.12
  • EUR/GBP continues to trade above the midpoint of 84-85p
  • Today’s main macro data highlight is US consumer confidence (Aug)
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.1167   -0.14 1.19
EUR/GBP 0.846   -0.13 -2.40
GBP/USD 1.3197   0.00 3.68
GBP/EUR 1.1817   0.13 2.46
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
Irish Economy Watch - August 2024
 

House prices continue to trend sharply higher. They were up 8.6% YoY in June. Consumer prices rose by 0.2% in July, amid further increases in transport and hospitality costs. Revisions to the data show the unemployment rate averaged 4.4% in Q2’24 up from 4.3% in Q1’24. The preliminary reading indicates GDP expanded by 1.2% in Q2’24, but it remained 1.4% lower in YoY terms. 
 
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