Dear Reader,

 

Today's overview of economic news and market action: 

  • As expected, the ECB cut interest rates by 25bps yesterday …
  • The overarching message from the ECB was that the policy outlook has become less clear …
  • However, the central bank maintains a willingness to cut rates again if warranted …
  • Elsewhere, the US exempted some Canadian and Mexican goods from tariffs until April 2nd …
  • Currency-wise, the euro remained on the front-foot yesterday …
  • EUR/USD opens today in the lower half of $1.08-1.09 …
  • GBP/USD is operating just above the $1.29 handle …
  • Elsewhere, EUR/GBP is changing hands up near the 84p mark …
  • Today, the main release will be the US labour market report for February …
 
Continue Reading
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.0835   0.25 4.66
EUR/GBP 0.8394   0.20 1.46
GBP/USD 1.2904   0.03 3.14
GBP/EUR 1.1908   -0.20 -1.44
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
More Economic News
 
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
 
Read More
 
 
 
AIB Ireland Services PMI - February
 

The AIB Ireland Services PMI® survey data for February indicated further subdued growth of the Irish services economy, with both new business and total activity increasing at the weakest rates in just over a year.
 
Read More