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Euro remains stable against the dollar
The euro traded stable against the dollar today, after having started by retreating due to the increase in tension in the Middle East.
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Economia Moeda
At 6:10 pm (Lisbon time), the euro was trading at 1.0655 dollars, while on Thursday it was trading at 1.0654 dollars.
On the other hand, the European Central Bank (ECB) set the euro exchange rate at 1.0653 dollars.
During the session, Eurostat indicated that the Gross Domestic Product (GDP) of the euro area fell by 0.1% in the fourth quarter of 2023 and entered a technical recession due to two consecutive quarters in negative territory.
According to the EFE agency, preliminary estimates indicated that a recession had been avoided with a growth rate of 0% between October and December, but the revision of the figures released today points to a slight contraction, which is added to that of the third quarter, also of 0.1%.
In this sense, the president of the ECB, Christine Lagarde, assured today, at the spring meetings of the International Monetary Fund (IMF) that the available data indicate that activity also remained weak during the first quarter of 2024, but that it will recover throughout the year.
During her speech, Lagarde reaffirmed that interest rates could fall in June if the disinflation process continues, but did not commit to further cuts.
Today, the markets were pending the escalation of tension in the Middle East, after reports of an Israeli attack on Isfahan, Iran, with no casualties.
Read also: Euro recua mas permanece nos 1,06 dólares (Portuguese version)
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