Dear Reader,
Today's overview of economic news and market action:
- There was a risk averse mood on markets yesterday, amid volatile trading conditions …
- Overall, the Euro Stoxx 50 shed 2.8%, while the S&P 500 fell by 1.2% …
- Plans for higher fiscal expenditure in Germany/EU & tariff newsflow impacted markets …
- Against this backdrop, there were significant moves on currency markets …
- The euro was firmly in the ascendancy, while the dollar was under pressure …
- This saw EUR/USD register a fresh year-to-date high of $1.0664 …
- Elsewhere, GBP/USD is operating up above the $1.28 threshold …
- Meanwhile, EUR/GBP is changing hands back above 83p …
- Geopolitics and tariff newsflow will likely continue to influence markets today ...
|
Today's Opening FX Rates
| |
|
|
% Change Day* |
End 2024 |
| EUR/USD |
1.0652 |
|
1.61 |
2.89 |
| EUR/GBP |
0.8316 |
|
0.74 |
0.52 |
| GBP/USD |
1.2804 |
|
0.87 |
2.34 |
| GBP/EUR |
1.2018 |
|
-0.73 |
-0.52 |
| *versus Previous Day's European Open |
All rates quoted are indicative market rates.
|
|
Irish Economy Watch - February 2025
- Manufacturing PMI rose to 51.3 in January, indicating a first monthly expansion since October
- The services PMI fell to 53.4 in January, consistent with a slower pace of expansion
- Retail sales were 0.4% lower YoY in December
- Housing commencements 12 month running total at 60.6k in January
AIB Ireland Services PMI - February
The AIB Ireland Services PMI® survey data for February indicated further subdued growth of the Irish services economy, with both new business and total activity increasing at the weakest rates in just over a year.
|
|
