Japan's economy experienced a notable contraction in the first quarter of 2024, with the gross domestic product (GDP) shrinking at an annualized rate of 2%.
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The Eurozone has left its technical recession behind. The latest data shows an increase in gross domestic product (GDP) of 0.3 in the first quarter of 2024 compared to the previous quarter.
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The US economy has presented its first quarter GDP data for 2024, revealing a growth rate of 1.6% at an annualized pace, which is notably slower than the anticipated 2.5%.
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The UK economy has displayed signs of stability, with the latest GDP figures from the Office for National Statistics (ONS) suggesting a modest recovery from the recessionary trends of the previous year.
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In the United States, a number of important economic indicators are due in the coming week that will have a significant impact on market momentum.
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The EUR/USD pair faced difficulty gaining momentum as the new week began, hovering around the mid-1.0600s in the early European session. This stagnant movement follows the pair's recent decline, reaching its lowest point since March last Friday. The strength of the US Dollar (USD) plays a significant role in this scenario, boosted by the Federal Reserve's hawkish stance.
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