Dear Reader,

 

Today's overview of economic news and market action: 

 

  • There was a positive tone to investor sentiment yesterday …
  • Currency-wise, the dollar remained on the defensive …
  • This sees EUR/USD open today in the top half of $1.17-1.18 …
  • GBP/USD is changing hands above the midpoint of $1.35-1.36 …
  • USD/JPY is back in the lower half of ¥146-147 …
  • EUR/GBP remains in a tight corridor within the top half of 86-87p …
  • Today, the ECB is widely expected to leave policy on hold …
  • The flash PMIs in the Eurozone, UK and US for July are also due …
 
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Today's Opening FX Rates
 
      % Change Day* End 2024
EUR/USD 1.1763   0.24 13.62
EUR/GBP 0.8669   -0.05 4.79
GBP/USD 1.3566   0.30 8.43
GBP/EUR 1.153   0.05 -4.57
*versus Previous Day's European Open

All rates quoted are indicative market rates.

 

 

 

 
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The Summer Economic Statement (SES) and National Development Plan (NDP) are key milestones towards Budget 2026. The SES sets out the fiscal boundaries of the Budget 2026 package to be announced in the autumn, while the NDP outlines the Government’s medium-term infrastructure priorities.

 
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