| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 09:00 | Eurozone | Current account, adjusted, bln | November | 32.3 | 30.9 | 24.6 |
EUR traded mixed and flat against other major currencies in the European session on Thursday as investors took a cautious stance ahead of the release of the minutes from the European Central Bank’s December 2023 meeting later in the day, which might shed more light on the policymakers’ views on the future policy path.
The single European currency rebounded on Wednesday as markets recalibrated their optimistic expectations of European Central Bank interest rate cuts in response to its president Christine Lagarde’s remarks.
Lagarde echoed recent comments by other the ECB’s representatives, cautioning against markets’ aggressive bets on monetary policy easing in the euro area. She also indicated that interest rate cuts are likely to begin this summer - later than markets’ prediction for a spring start of the rate-reduction cycle. However, Lagarde emphasised that the ECB is data-dependent and that there is still a level of uncertainty and some indicators that are not anchored at the level where the rate-setters would like to see them.