Dear Reader,

 

The economic news and market action:

 

  • Risk appetite soured yesterday as US rates hardened …
  • Against this backdrop, the dollar was in the ascendancy …
  • The dollar rose by circa 1% versus the euro and sterling …
  • Sees EUR/USD open down in the bottom half of $1.05-1.06 …
  • GBP/USD is operating back below the $1.19 threshold …
  • EUR/GBP is up near the midpoint of 88-89p …
  • EZ inflation & US labour market report (both Dec) due today …
  • Both releases pose some event risk on currency markets …
 
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Today's Opening FX Rates
 
      % Change
      Day* End 2021
EUR/USD 1.0517   -0.87 -1.73
EUR/GBP 0.8841   0.29 -0.03
GBP/USD 1.1893   -1.20 -1.69
GBP/EUR 1.1304   -0.29 0.03
*versus Previous Day's European Open

 
 
 
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AIB Ireland Services PMI - December 2022
 

The final batch of AIB PMI® survey data for 2022 revealed slightly faster increases in activity and new business in December, though growth rates remained modest overall.
 
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AIB Economist's Weekly Market View - 3 January 2023
 

The Irish residential property market has been characterised by marked upward pressure on prices and rents over the past couple of years.
 
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