Dear Reader,

 

Today's overview of economic news and market action:

  • Risk averse mood on markets to kick-start 2024 …
  • Sentiment influenced by central bank rhetoric, US labour market and EZ inflation data last week …
  • Amid some volatility, futures contracts hardened by circa 10-20bps …
  • Currency-wise, the dollar and sterling were firmer, while the yen was on the defensive …
  • Sees EUR/USD open today at the midpoint of $1.09-1.10 …
  • EUR/GBP is back near the 86p handle …
  • GBP/USD is in the lower half of $1.27-1.28 …
  • This week, the main release will be US CPI inflation (Dec) …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0948   0.12 -0.80
EUR/GBP 0.8607   -0.23 -0.70
GBP/USD 1.2715   0.32 -0.11
GBP/EUR 1.1613   0.23 0.71
*versus Previous Day's European Open
 
Weekly Market Brief: 8 - 12 January
 

In Good Shape for 2024

 

The task of forecasting how the Irish economy will perform in 2024 is made all the more difficult by the contradictory indicators on its performance in 2023. 
 
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AIB Ireland Manufacturing PMI® - December 2023
 

Renewed downturn in manufacturing order books, but business optimism improves slightly

 

The AIB Ireland Manufacturing PMI® pointed to worsening business conditions as 2023 drew to a close, representing a setback after the stabilisation seen during November.
 
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AIB Ireland Services PMI® - December 2023
 

 

Service sector expansion sustained in December as business outlook for 2024 improves

 

The December AIB PMI® survey data signalled a further rise in service sector activity, extending the current growth sequence that began March 2021.
 
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Historic Rates for 2023
 
 
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