Dear Reader,
Today's overview of economic news and market action:
- The summer lull persisted on markets yesterday, amid a barren data calendar …
- In terms of fixed income, benchmark sovereign bond yields inched slightly lower across the board …
- The spread between German and French 10-year yields widened by 5bps …
- The euro was under some downward pressure throughout the European session …
- However, the dollar came under some downward pressure overnight …
- EUR/USD is up near the midpoint of $1.16-1.17, having traded below $1.16 yesterday …
- GBP/USD is at the $1.35 threshold …
- Meanwhile, EUR/GBP remains in the lower end of the 86-87p trading band …
- Today, the ECB meeting minutes from July are due …
- In the US, remarks from Fed Governor Waller will feature …
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Today's Opening FX Rates
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% Change Day* |
End 2024 |
| EUR/USD |
1.164 |
|
0.24 |
12.43 |
| EUR/GBP |
0.8618 |
|
-0.17 |
4.17 |
| GBP/USD |
1.3502 |
|
0.41 |
7.92 |
| GBP/EUR |
1.1598 |
|
0.17 |
-4.00 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
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Irish Economy Watch August 2025
Manufacturing PMI stayed firmly in expansion mode at 53.2 in July, The services PMI eased further in July to 50.9, Core retail sales rose by 1.0% in the second quarter, Housing commencements 12 month running total back below 41k in June.
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.
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