Daily digest market movers: EUR/USD finds room up top after Fed talks down Greenback
- Pan-European Retail Sales fell less than expected for the year ended January, printing at -1.0% compared to the forecast -1.3%, but still down from the previous print of -0.5% (revised up slightly from -0.8%).
- US ADP Employment Change for February came in at 140K, below the forecast 150K but still higher than the previous month’s 111K, which was also revised higher from 107K.
- Fed Chair Powell:
- There is no reason to think the economy is in or faces significant near-term risk of recession.
- Fed sees ongoing solid growth, should continue moving forward.
- Would like to have more confidence on inflation. Fed has some confidence but needs more.
- Jerome Powell Speech: Fed Chair doesn't see elevated risk of recession
Edited 08 Mar 2024, 15:22
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