The EUR/USD currency pair experienced a significant surge of 1.4% on Tuesday, climbing 140 pips in a single session. This impressive movement came amid a sell-off of the US Dollar, as investors speculated that US President Donald Trump might retract his tariff threats. In related news, Australia's Gross Domestic Product (GDP) increased by 0.6% quarter-over-quarter in the fourth quarter of 2024, according to the Australian Bureau of Statistics. This growth marked an improvement from the previous quarter's 0.3% expansion. The article was published on Wednesday and is sponsored by a broker discovery service.
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Investors' optimism was fueled by the possibility of President Trump walking back his aggressive tariff measures, leading to a weakened US Dollar. This optimism contributed to the EUR/USD pair's notable gains, as markets adjusted their positions in anticipation of potential changes in US trade policy.
Australia's economic performance also drew attention, with the Australian Bureau of Statistics reporting a 0.6% growth in GDP for the fourth quarter of 2024. This figure surpassed the third quarter's growth rate of 0.3%, indicating a strengthening economy. The improved GDP figures provided further context to the currency market movements, suggesting a positive outlook for Australia's economic prospects.
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