Dear Reader,

 

Today's overview of economic news and market action:

 

    • Quiet start to the week on markets  …
    • Currency-wise, the yen and euro were on the defensive …
    • However, overnight they recouped most of their losses3
    • EUR/USD open this morning in the top half of $1.07-1.08 …
    • EUR/GBP remains in the 85-86p range …
    • GBP/USD is above the halfway mark of $1.25-1.26 …
    • USD/JPY is in the ¥145-146 corridor …
    • Later today, the focus will be on US CPI inflation data for November …
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.0778   0.10 0.71
EUR/GBP 0.8568   -0.17 -3.12
GBP/USD 1.2577   0.29 3.97
GBP/EUR 1.1665   0.18 3.22
*versus Previous Day's European Open
 
Weekly Market Brief: 11 - 15 December
 

Great Expectations

 

Markets have been on fire since late October, with equities marching higher and bond yields tumbling, as investors bet on rapid rate cuts in 2024. 
 
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Forex and Interest Rate Outlook - December
 

World economy has lost momentum during 2023. Even the US economy may be starting to slow after a strong performance year-to-date. Subdued growth expected again in 2024.
 
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AIB Ireland Manufacturing PMI® - November 2023
 

Latest survey data from the AIB Ireland Manufacturing PMI® highlighted a stabilisation in overall business conditions, following modest downturns in September and October.
 
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AIB Ireland Services PMI® - November 2023
 

Service sector expansion accelerates in November

 

Rates of expansion in total activity and new business both accelerated on the month for the first time since April, with a notable rebound in the Transport, Tourism & Leisure sector.
 
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