In the previous week, Tesla’s shares took a hit, dropping approximately 12% following the release of its earnings report, indicating the market’s sensitivity to these high-profile earnings announcements.
Furthermore, the European Central Bank’s recent decision to maintain its interest rate policy unchanged has put the Euro under some pressure, especially with market participants now expecting potential rate cuts in response to stagnating economic growth within the Eurozone. The forthcoming GDP data from the Eurozone and Germany will be closely watched for indications of the economic health of the region, which could influence future monetary policy decisions.
Meanwhile, the US dollar experienced a rather steady week, with minimal fluctuations despite a slightly better-than-expected Core PCE report and a strong advance in Q4 GDP figures, suggesting a watchful approach from traders as they navigate through these key economic and corporate developments.
