EUR/USD extended the bounce to the proximity of 1.0800. ECB C. Lagarde reiterated the data dependent stance of the bank. The European Commission revised lower its GDP forecast for 2024. Another moderate decline in the US dollar led to a further advance in risk-oriented assets on Thursday, sponsoring extra gains in EUR/USD to the proximity of the key barrier at 1.0800 the figure.
On another front, the European Commission published its Winter Forecast, and it has revised its projection for eurozone GDP growth in 2024 downward, now expecting it to be 0.8% while anticipating a growth of 1.5% for 2025. Additionally, the EC predicts a slower growth rate for the German GDP in 2024, forecasting it to be 0.3% , with a projected growth of 1.2% for 2025. Furthermore, the Commission foresees a decrease in Eurozone inflation, estimating it to drop to 2.7% in 2024 from 5.
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