Money News Overview Thursday 22nd February 2024: Flash PMIs are due today

Eurozone PMI impact on markets

Overnight, Federal Reserve policymakers expressed concern that inflation might remain stubbornly high at their policy meeting last month, according to minutes released yesterday evening. This might keep interest rates at a 23-year high for longer than anticipated.

On the currency front, the main FX pairings remained in tight ranges. The yen and the dollar were on the defensive, given the minimal activity that was evident. 

Looking ahead, a packed data schedule includes the flash PMIs for February in the Eurozone, US, and UK. However, barring any huge surprises, the data is unlikely to have an influence on markets. The final measurement of Eurozone inflation for January, as well as initial jobless claims in the United States, are upcoming.

On the monetary policy front, the most recent ECB Monetary Policy Meeting Account will draw attention. Remarks from other Fed officials will also be analysed.

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