Posted 1/15/2024, 2:30:24 PM
German Growth Outlook Weakens Further; All Eyes on Upcoming ECB Signals Amid High Inflation
- German 2023 GDP confirmed at -0.3% year-over-year; 2022 GDP revised down to 1.8%
- Upcoming German and Eurozone inflation data and ECB meeting minutes in focus
- ECB's Nagel says too early to discuss rate cuts; inflation still too high
- EUR/USD trading in tight range, supported by 20-day SMA; capped by 50-day SMA
- IG client sentiment data shows majority of retail traders are net-long EUR/USD