Dear Reader,

Today's economic news and market action:

• Positive tone to risk appetite yesterday
• Sentiment was supported by better than expected US data
• Although, the underlying macro details were not as strong as headline numbers
• On the currency front, the dollar is somewhat firmer over the past 24 hours
• EUR/USD is back below the $1.09 threshold
• Meanwhile, EUR/GBP has edged back under the 88p level
• Today’s data highlights remain US focused
• Diary includes US personal income/spending data for December

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The World Bank, in its latest Global Economic Prospects report released earlier this month, warned that the global economy is perilously close to falling into recession this year. It said the world economy could register one of the weakest rates of growth seen in recent decades in 2023, following a year of very high inflation, worsening financial conditions and Russia’s invasion of Ukraine.

Some Silver Linings in Dark Clouds

The World Bank, in its latest Global Economic Prospects report released earlier this month, warned that the global economy is perilously close to falling into recession this year.

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...