Dear Reader,

Today's overview of economic news and market action:

• Somewhat of a mixed tone to investor sentiment
• Data-wise, EZ GDP data showed stagnant economy in Q4
• Currency-wise, main pairs remained within confined ranges
• EUR/USD opens in the lower half of $1.08-1.09
• EUR/GBP has edged marginally higher within bottom half of 85-86p
• Ahead today, focus will be on Fed meeting, with no rate changes expected.
• Market will be looking for guidance on when to expect rate cuts

World economy grew at a very modest pace in 2023. Subdued growth expected again in 2024, with continuing weak performance by most advanced economies in particular. Inflation fell sharply last year and further moderation in price pressures anticipated in 2024.

ECB on hold for third straight meeting

The first policy setting meeting of the ECB’s Governing Council for 2024 saw the Central Bank maintain its key deposit rate at 4%.

The Lady’s Not for Turning? 

The first policy setting meeting of the ECB’s Governing Council for 2024 saw the Central Bank maintain its key deposit rate at 
4%, as expected.