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The US Dollar (USD) is paring back some gains that got collected in the aftermath of the US tripod print of US Gross Domestic Product - Durable Goods - Jobless Claims on Thursday. At that same time on Thursday the European Central Bank
The Gross Domestic Product (GDP) report for the fourth quarter, to be released by the Bureau of Economic Analysis (BEA) on Thursday, is forecast to show an expansion of the US economy at an annualized rate of 2% following the impressive 4.9% growth recorded in the previous quarter.
The European Central Bank (ECB) will have its first monetary policy meeting of the year on Thursday, but little is to be expected from European policymakers.
The Euro (EUR) fell on Thursday after the European Central Bank (ECB) struck a dovish tone during its latest monetary policy statement, which sent the Euro down against the majority of its major currency peers.
The US Dollar (USD) DXY index has traded at 103.55 on Thursday, representing 0.30% gains following the release of key economic activity as the case of nearer-term rate cuts by the Federal Reserve (Fed) continues to lose relevance.