Dear Reader,

Today's economic news and market action:

• Mixed mood on markets amid choppy trading conditions to kick-off 2023 …
• The Euro Stoxx 50 gained circa 6% last week, with the S&P 500 up 1.4% …
• Currency-wise, the dollar was holding a firmer tone throughout the week …
• However, the dollar came under downward pressure on Friday, erasing its gains …
• EUR/USD starts the week just below the $1.07 mark …
• EUR/GBP is operating in the top half of 87-88p …
• GBP/USD is changing hands near the midpoint of $1.21-1.22 ...
• US CPI inflation (Dec) and comments from Fed officials the highlight this week …

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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.

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

AIB's Economic Research Unit provides regular commentary on the domestic and global economy, currency and interest rate markets, and special commentary on key events...