Author: Michael Crowley

Main currency pairs little changed

It was a very quiet start to the week in financial markets, not helped by a light economic data calendar, In FX, the dollar drifted higher from Friday’s closing levels chalking up modest gains. The euro and sterling are trading at around $1.1675 and $1.3520 respectively this morning, versus $1.17 and $1.3550 at the end […]

Dollar softer amid mixed US data

While Friday’s US economic data were something of a mixed bag, the dollar ended a little lower on the day. Over the week it shed around half a cent and one cent against the euro and sterling respectively, and is trading at about $1.17 and $1.3550 this morning. EURGBP is a touch firmer than Friday […]

UK Labour Market Loosens Further, Q2 GDP Growth Exceeds Expectations

This week the ONS published labour market and GDP data for Q2. Unemployment came in at 4.7%, up from 4.5% in Q1, reflecting ongoing subdued jobs growth, while pay growth decelerated further. The GDP data surprised slightly on the upside – most analysts were expecting a quarterly gain of only 0.1% in Q2 while in […]

Dollar a touch firmer

The dollar popped higher yesterday after stronger than expected US producer price inflation data, though its gains were modest and are proving relatively short-lived for now. There’s plenty more US economic data due today though, including July retail sales, which will have a bearing on the near-term direction for the currency. It is currently trading […]

Growing expectations for Fed rate cuts

Growing expectations for Fed rate cuts over the coming months continued to dominate markets yesterday with bond yields falling and stocks chalking up further gains, though the impact on the dollar was relatively muted. The euro is hovering just below $1.17 against the US currency this morning, not much changed from yesterday morning albeit off […]

Dollar lower after US inflation data

Inflation in the US came in a little lower than forecast in July (at 2.7%, unchanged from June) fuelling market expectations for a cut in interest rates at the Fed’s next meeting next month. US stocks rallied to new record highs, US bond yields edged lower, and the dollar weakened. The latter is trading at […]

US inflation data the focus today

Markets largely treaded water yesterday ahead of today’s key CPI inflation report in the US. The dollar has drifted a little higher against both the euro and sterling to trade at around $1.1620 and $1.3450 respectively this morning, while EURGBP is a touch weaker hovering just below £0.8650. Labour market data released a short while […]

Busy week of economic data ahead

The dollar lost more ground last week, extending the decline triggered by the previous weeks’ softer than forecast US jobs data which saw the market ramp up expectations for Fed rate cuts over the remainder of this year. The euro gained around three quarters of a cent against the US currency over the course of […]

Spending on Bank of Ireland Credit/Debit Cards up 6.4% in July

This month’s Bank of Ireland credit/debit card data shows consumer spending expanding at a healthy pace of 6.4% year-on-year in July 2025, similar to May and June. Spending growth remains well above the rate of inflation, which came in at 1.7% in July. Growth was broad based across Retail, Services and Social sectors. Most other […]

Pound firmer after BoE rate decision

Sterling has gained ground following yesterday’s Bank of England (BoE) interest rate decision. As widely anticipated the BoE lowered rates by 25bps to 4%, but the vote to do so (5/4) was much more finely balanced than expected. Moreover, BoE Governor Bailey said that, while the direction for rates was still “downward”, the timing and […]