Dear Reader,
Today's overview of economic news and market action:
- Investor sentiment was somewhat mixed yesterday amid a relatively sparse macro calendar …
- However, overnight risk appetite has soured, amid rising tensions in the Middle East …
- Currency-wise, the euro was holding a slightly firmer tone, while the dollar was on the defensive …
- This saw EUR/USD register a new YTD high above $1.16 …
- However, as risk appetite soured overnight, the dollar recouped its losses …
- EUR/USD opens today in the lower half of $1.15-1.16 …
- EUR/GBP is north of the 85p mark …
- Today, Eurozone industrial production (May) and US consumer sentiment (June) are due …
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Today's Opening FX Rates
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% Change Day* |
End 2024 |
| EUR/USD |
1.1527 |
|
0.12 |
11.34 |
| EUR/GBP |
0.8523 |
|
0.55 |
3.02 |
| GBP/USD |
1.3522 |
|
-0.43 |
8.08 |
| GBP/EUR |
1.1729 |
|
-0.55 |
-2.93 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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ECB Watch:June 2025
The ECB's governing council meeting for June saw the central bank lower interest rates for a fourth consecutive time this year. It's once again reducing them by 25bps, With the deposit rate lowered to 2.00%., while the Re-fi rate was decreased to 2.15%. This Marked the eight 25bps rate cut since the ECB started its easing cycle in June 2024.
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