Dear Reader,

Today's overview of economic news and market action:

• • Investor sentiment was holding a subdued tone yesterday …
  • Currency-wise, the dollar was in the ascendancy …
  • The greenback rose by circa 0.8% against the euro, sterling and yen …
  • Sees EUR/USD open this morning back at the midpoint of $1.09-1.10 … 
  • GBP/USD is in the lower half of $1.26-1.27 … 
  • EUR/GBP remains in the top half of 86-87p …
  • Busy US docket today includes the manufacturing ISM, JOLTS job openings and Fed meeting minutes ….

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.

Click below to read the Weekly Market Brief for the holiday period ahead. Please note, the next AIB Weekly Market Brief & Economic Diary will be published on January 5th 2024.

ECB holds the line on tight policy as pressure builds for rate cuts

The December meeting of the ECB’s Governing Council saw the Central Bank maintain its key deposit rate at 4%, which was in line with expectations.