Dear Reader,

 

Today's overview of economic news and market action: 

 

  • Yesterday’s main macro event saw the ECB cut rates as expected
  • However, the ECB was somewhat less dovish in tone
  • As a result, market reaction saw the euro make some modest gains
  • EUR/USD opens this morning at $1.143, with EUR/GBP near 84.4p
  • Today, the focus shifts to the US macro diary and a raft of labour market data
  • This includes monthly payroll numbers for May

 
 
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Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1431   0.20 10.41
EUR/GBP 0.8437   0.19 1.98
GBP/USD 1.3547   0.01 8.28
GBP/EUR 1.185    -0.19 -1.94
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 
 
More Economic News
 
AIB's Economic Outlook May 2025
 
  • Global uncertainty over trade tensions and tariffs expected to slow 2025 and 2026 growth.
  • Modified domestic demand growth of 2.3% expected this year.
  • Labour market will continue to expand, but jobs growth to ease.
  • Consumer spending robust but growth set to moderate as households build savings in uncertain macro environment.
  • Theme in Focus:Could Ireland weather a tariff & FDI shock?
 
Read More
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