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Dear Reader,

 

Today's overview of economic news and market action: 

 

    • Investor sentiment retained a positive tone yesterday
    • Currency-wise, the main pairs remained within relatively narrow ranges
    • EUR/USD opens this morning in the upper half of $1.16-1.17
    • EUR/GBP remains above the midpoint of 86-87p
    • Today’s macro diary features some key US labour market updates
    • This includes the much anticipated non-farm payrolls data for August

     

     

     

     
 
Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.167        0.17 12.72
EUR/GBP 0.8667        -0.09  4.76
GBP/USD 1.3458         0.25 7.57
GBP/EUR 1.153         0.09 -4.55
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
 
 
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.