Dear Reader,

 

Today's overview of economic news and market action:

  • Trading conditions remained relatively calm on markets yesterday …
  • Currency-wise, the main FX pairs continued to operate in tight ranges …
  • Overall, the dollar was under some modest pressure, while the yen stayed on the defensive …
  • This sees EUR/USD open in the top half of $1.09-1.10 …
  • GBP/USD is operating between $1.27-1.28.
  • USD/JPY is changing hands above the ¥145 mark …
  • The main release today will be US CPI inflation for December  ….
 
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Today's Opening FX Rates
 
    % Change
      Day* End 2022
EUR/USD 1.098   0.44 -0.51
EUR/GBP 0.8598   -0.09 -0.81
GBP/USD 1.2765   0.50 0.28
GBP/EUR 1.1621   0.09 0.81
*versus Previous Day's European Open
 
Weekly Market Brief: 8 - 12 January
 

In Good Shape for 2024

 

The task of forecasting how the Irish economy will perform in 2024 is made all the more difficult by the contradictory indicators on its performance in 2023. 
 
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AIB Ireland Manufacturing PMI® - December 2023
 

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.
 
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AIB Ireland Services PMI® - December 2023
 

 

Service sector expansion sustained in December as business outlook for 2024 improves

 

The December AIB PMI® survey data signalled a further rise in service sector activity, extending the current growth sequence that began March 2021.
 
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Historic Rates for 2023
 
 
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