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Breakfast Bites - German economy contracts
Red Sea issue de-escalates & oil drops; China Central Bank doesn't ease; Eura Area Industrial Production falls
Ayesha Tariq
January 15, 2024
Rise and shine everyone.
The US Markets will remain closed for trading today because of MLK Day.
The big news for today is that the full-year German GDP numbers for 2023 came in negative at -0.3%. As expected, the decline was driven primarily by a decline in industry (-2%) and household consumption (-0.8%).
US Equity Futures (still trading for shorter hours) are positive today after the relatively tough close on Friday. The major reversal we saw over the weekend was in Bitcoin, giving up its gains and now trading below 43,000. The US Dollar remains flat.
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