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EBC Daily Snapshot Apr 23, 2024

EBC Forex Snapshot 23 Apr 2024 The euro firmed on Tuesday but was on track for its biggest monthly drop since January. Business activity in the eurozone picked up strongly in April thanks to robust growth in the service sector. The HCOB Flash Eurozone Composite PMI rose to 54.1, the highest in 11 months. Expectations remain for the ECB to start cutting by mid-year, putting the single currency on the back foot against the US dollar. Markets are pricing in a 46% chance of the Fed's first rate cut starting in September, with November not far behind at 42%, according to the CME FedWatch Tool. EBC Wealth Management Expertise Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation byEBC Wealth Management Expertise or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-23 10:20:28 (GMT)

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