Dear Reader,

Today's economic news and market action:

• Positive tone to investor sentiment to start the week …
• Euro Stoxx 50 rose by 0.8%, S&P 500 gained 1.2% …
• Currency-wise, the dollar was on the defensive early on …
• However, the US currency recouped most of its losses before the close …
• EUR/USD opens just below $1.09 …
• GBP/USD is at the $1.24 level …
• EUR/GBP is operating in the top half of 87-88p …
• Today, the flash PMIs (Jan) for the SU, Eurozone and UK will feature …
• Comments from ECB President Lagarde will also garner attention …

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The World Bank, in its latest Global Economic Prospects report released earlier this month, warned that the global economy is perilously close to falling into recession this year. It said the world economy could register one of the weakest rates of growth seen in recent decades in 2023, following a year of very high inflation, worsening financial conditions and Russia’s invasion of Ukraine.

Some Silver Linings in Dark Clouds

The World Bank, in its latest Global Economic Prospects report released earlier this month, warned that the global economy is perilously close to falling into recession this year.

AIB's Economic Research Unit provides regular commentary on the domestic and global economy, currency and interest rate markets, and special commentary on key events...