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US data on the agenda shortly this afternoon as EUR/USD rebounds to touch 1.0800
At 12.30pm GMT we will get a number of US economic releases. Perhaps the headline those will be the final Q4, 2024 revisions on GDP and PCE. Nothing is expected to be revised in either direction and unless it is it will not evoke any kind of market reaction. Also out is the latest weekly jobless and continuing claims numbers and the February advanced trade balance. Given the current backdrop both those data points are elevated in terms of their importance right now and hence an update here will follow once known. Ahead of this those US yields remain elevated, but the dollar versus Europe has fallen back, versus the Pound and the Euro. The EUR/USD has managed to push higher at the same time as the USD/JPY has done the same and that means the EUR/JPY rebounded too. The EUR/USD touched the 1.0800 handle a short while ago and the driver for that was an announcement from the EU on what they plan to do, in order to counter the US auto tariff measures. The EUR/USD is off that high just now though, currently trading at 1.0787
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