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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Investors continued to digest the US-EU trade deal announcement yesterday …
  • A busy macro calendar and a slew of earnings reports also impacted sentiment ..
  • The dollar remained in the ascendancy, but it handed back some of its gains overnight …
  • At the same time, the euro was on the defensive once again …
  • EUR/USD starts today just in the top half of $1.15-1.16 …
  • GBP/USD is at the midpoint of $1.33-1.34 …
  • EUR/GBP is at the halfway mark of 86-87p …
  • Today, the focus will be on the Fed FOMC meeting outcome …
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1558   -0.26 11.64
EUR/GBP 0.8653    0.30  4.59
GBP/USD 1.3352   0.04   6.72
GBP/EUR 1.155   0.30 -4.39
*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.