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Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Mixed tone to investor sentiment yesterday
  • US PPI inflation data (Jul) printed higher than expected
  • Resulted in a modest firming in US rate expectations
  • Dollar also managed to generate some positive momentum
  • EUR/USD opens this morning nearer to the midpoint of $1.16-1.17
  • Elsewhere, EUR/GBP remains near to 86p
  • Today’s data highlights are US centric and include retail sales for July

     

     
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1666    -0.32 12.68
EUR/GBP 0.8611    -0.09  4.09
GBP/USD 1.3542    -0.24  8.24
GBP/EUR 1.1606    -0.24 -3.93
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
Bank of England Watch August 2025
 
 

The Bank of England's Monetary Policy Committee (MPC) meeting for August saw the central bank cut the Bank Rate by 25bps to 4.00%. This represented the third 25bps rate reduction from the BoE this year, having previously cut in February and May.
 
 
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.