Dear Reader,

Today's overview of economic news and market action: 

• There was a mixed mood on financial markets last week …
• Currency-wise, the dollar was on the front-foot once again for most of last week …
• However, rumours regarding Fed Chair Powell’s position weighed on the dollar …
• After the reports regarding his position were quashed, the dollar regained the ascendancy …
• EUR/USD opens today back in the lower half of the $1.16-1.17 range …
• GBP/USD is just above the $1.34 threshold …
• Elsewhere, EUR/GBP is in and around the midpoint of 86-87p …
• This week, the main highlight will be the ECB policy meeting on Thursday …
• Data-wise, the flash PMIs for July are due …

All rates quoted are indicative market rates.

Risk appetite improves following significant uncertainty/volatility in the aftermath of “Liberation day” However, there is still limited clarity on the ultimate landing zone for US tariffs. 

As we reach the halfway mark of 2025, the Irish residential property market continues to be defined by a shortfall in supply.