Dear Reader,

Today's overview of economic news and market action:

• • Dollar under some downward pressure over the Christmas period …
  • However, the greenback recouped some of its losses on the final trading day of 2023 …
  • EUR/USD opens today in the lower half of $1.10-1.11 …
  • GBP/USD is between 1.27-1.28 …
  • EUR/GBP is in the 86-87p range ….
  • This week, the focus will be on EZ flash HICP Inflation and the US labour market report (both Dec) ….

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.

BoE holds rates at 5.25%, in no mood to ease policy

The December meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank keep its key interest rate unchanged at 5.25%.