Dear Reader,

 

Today's overview of economic news and market action

  • Data-wise, the focus yesterday was on the PMIs for August
  • Overall, some mixed results across geographies and sectors
  • Currency-wise, sterling has been on the rise over the past 24 hours
  • At the same time, the euro has been slightly softer
  • GBP/USD opens up at $1.31, EUR/GBP below 85p and EUR/USD near $1.11
  • Ahead today, the focus is on Fed Chair Powell’s speech at Jackson Hole
 
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Today's Opening FX Rates
 
      % Change Day* End 2023
EUR/USD 1.112   -0.21 0.76
EUR/GBP 0.8482   -0.41 -2.15
GBP/USD 1.3105   0.18 2.95
GBP/EUR 1.1783   0.41 2.19
*versus Previous Day's European Open

All rates quoted are indicative market rates.
 
Irish Economy Watch - August 2024
 

House prices continue to trend sharply higher. They were up 8.6% YoY in June. Consumer prices rose by 0.2% in July, amid further increases in transport and hospitality costs. Revisions to the data show the unemployment rate averaged 4.4% in Q2’24 up from 4.3% in Q1’24. The preliminary reading indicates GDP expanded by 1.2% in Q2’24, but it remained 1.4% lower in YoY terms. 
 
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