S&P Global announced on Monday that it revised the 2023 Gross Domestic Product (GDP) growth forecast for Eurozone to 0.3% from 0% previously.

On a negative note, S&P Global now expects Eurozone GDP to expand by 1% in 2024, down from 1.4% in the previous forecast.

Market reaction

This headline doesn't seem to be having a noticeable impact on the Euro's performance against its major rivals. As of writing, EUR/USD was trading modestly higher on the day at 1.0770. Meanwhile, Euro Stoxx 50 is up more than 1% on a daily basis.