Dear Reader,

Today's overview of economic news and market action: 

• There was a risk averse tone to investor sentiment once again yesterday …
• Reports Fed Chair Powell would be fired weighed on risk appetite …
• However, the reports that Powell would be dismissed were later denied …
• Against this backdrop, the dollar remained in the ascendancy for most of yesterday …
• It should be noted though, that as rumours regarding Powell swirled, the dollar sold-off …
• As trading gets underway today, EUR/USD is back below the $1.16 mark …
• GBP/USD is just below the $1.34 handle …
• EUR/GBP is in and around the midpoint of 86-87p …
• Today, a slew of US data, including retail sales are due …

All rates quoted are indicative market rates.

Risk appetite improves following significant uncertainty/volatility in the aftermath of “Liberation day” However, there is still limited clarity on the ultimate landing zone for US tariffs. 

As we reach the halfway mark of 2025, the Irish residential property market continues to be defined by a shortfall in supply.