Here is what you need to know on Wednesday, March 13: The US Dollar (USD) is having a tough time gathering recovery momentum early Wednesday.
Here is what you need to know on Wednesday, March 13: The US Dollar is having a tough time gathering recovery momentum early Wednesday. After posting modest daily gains on Tuesday, the USD Index holds steady slightly below 103.00 in the European morning. The US economic docker will not offer any high-impact macroeconomic data releases later in the day. Eurostat will release Eurozone Industrial Production data for January.
The UK's Office for National Statistics reported that the real Gross Domestic Product expanded by 0.2% on a monthly basis in January. This reading followed the 0.1% contraction recorded in December and came in line with the market expectation. Gold snapped a nine-day winning streak on Tuesday and lost more than 1%, pressured by recovering US T-bond yields. XAU/USD stays in a consolidation phase at around $2,160 on Wednesday.
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