GDP largely in line with consensus, albeit a slight miss on the yearly rate. A muted reaction for the Euro, given that much of the focus this week will be on the ECB meeting and whether they will provide their own hawkish pivot to some degree, in light of elevated inflation.
EUR/USD: A modest bounce to begin the week for the Euro, with the move stemming from the unwind of the US Dollar’s recent bullish breakout. The question for the USD is whether it can maintain upside in the face of softer US data, which has been a recent theme.
