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EUR/USD struggles for direction amid eurozone recession and anticipated ECB hikes

The euro has appreciated against the US dollar despite the revelation that the eurozone economy has slipped into a technical recession after a larger than anticipated downward revision of Q1 GDP growth, according to MUFG. The eurozone economy has contracted by -0.1% for two consecutive quarters in Q4 2022 and Q1 2023. Germany and Ireland largely contributed to the downward revisions, which offset an upward revision for Italy.The report pointed out that lower consumer and government spending were... Read More

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Eur

Usd

Struggles

Direction

Amid

Eurozone

Recession

Eur usd

Anticipated

Forex

Posted: Jun 9 2023, 17:31

Author Name: forexlive

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