Data, released on the past week, show that the euro zone’s economy expanded by 0.2% in Q3 – this is slightly above the forecast of 0.1%. However, the improvement is not really significant and was partially caused by calculation changes, so the figures failed to move the market.
The overall economic picture in the currency block remains gloomy, so the European Central Bank is expected to announce a large-scale bond buying program in the coming months. We remind you that the ABS buying program begins next week.
On the new week watch ZEW economic activity indices on Tuesday and flash PMIs on Thursday. Mario Draghi will deliver a speech twice – on Monday and on Friday.
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0750 following Monday's indecisive action
EUR/USD continues to fluctuate in a tight channel at around 1.0750 after posting small gains on Monday. Disappointing Factory Orders data from Germany limits the Euro's gains as investors keep a close eye on comments from central bankers.
AUD/USD drops below 0.6600 after RBA policy announcements
AUD/USD stays under bearish pressure and trades deep in negative territory slightly below 0.6600. The RBA left the policy settings unchanged as expected but Governor Bullock said that there was no necessity to further tighten the policy.
Gold price turns red amid the renewed US dollar demand
Gold price trades in negative territory on Tuesday amid the renewed USD demand. A downbeat US jobs data for April prompted speculation of potential rate cuts by the Fed in the coming months.
Bitcoin miner Marathon Digital stock gains ground after listing by S&P Global
Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.