Key Points
LONDON (Reuters) -The euro steadied on Tuesday after data showed the euro zone narrowly avoided a technical recession in the fourth quarter, while the U.S. dollar edged lower, as traders awaited the Federal Reserves monetary policy decision this week...
Gross domestic product (GDP) in the 20 countries sharing the euro was flat in the fourth quarter against the previous three months, mainly thanks to strong growth in Spain and Portugal and a modest increase in Italy, while the German economy shrank in the final three months of 2023...
The euro was edged up 0.14% at $1.0846 against the dollar, as expectations are for a stronger U.S. outlook than in the euro zone, which has led investors to fully pricing in a rate cut by the European Central Bank (ECB) in April...
Markets are currently pricing in a 46.6% chance that the U.S. central bank will begin cutting in March, dropping from 73.4% a month ago, according to the CME Groups FedWatch Tool, as data has been reinforcing the view that the U.S. economy remains resilient...
With Japanese policy normalisation looking more likely in the second quarter, when the Bank of Japan (BOJ) will have additional wage data, the dollar-yen rate is expected to be more driven by Fed expectations, an analyst said.. Japans jobless rate fell to 2.4% in December from the previous month, government data showed on Tuesday, just under economists median forecast of 2.5% in a Reuters poll...
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