Euro likely to continue upward trend against the dollar 

Outlook for the eurozone economy remains clouded by trade tensions between the EU and the US and elevated global uncertainty

Europe and the US adopted differing postures as they face unpredictable macro backdrop

A weaker dollar may be both warranted and wanted by the US administration.

While the ECB maintains a willingness to cut rates again if warranted, the direction of monetary policy has become less clear

Market rate expectations for the ECB have remained relatively stable over the last number of months

An additional 50bps of easing by year end is a plausible scenario

While the US economy has continued to perform well over recent months, there have been signs of a loss of momentum in activity levels

Ongoing supply shortfall likely to mean falls in house prices should be modest

A notable feature of the Irish housing market over the past 12 months has been a clear decelerating trend in the rate of increase in prices.  This is against the backdrop of greater supply in 2022 and a rising interest rate environment.