DAVY VIEW

This week, three important Irish releases include Q2 housing completions, a new National Development Plan (NDP) and the Summer Economic Statement. Some €200bn of public capital spending will be sought over the next decade, and this could stimulate higher housing supply. Compared to recent expansions, a less stimulatory Budget 2026 package for current spending and tax cuts has been flagged. The European Central Bank (ECB) is expected to keep its deposit rate unchanged at its July meeting on Thursday. On Friday, UK retail sales will be closely watched for an expected rebound after an unusually weak May result, which could also be revised higher.