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European Shares Fluctuating Over Fed Rate Path

European shares were mixed as investors considered the potential path forward for Federal Reserve monetary policy and analyzed recent economic data from Europe.

The pan-European Stoxx 600 decreased by 0.28%, the DAX index in Germany traded 0.27% lower, the FTSE 100 in the U.K. fell 0.37%, and the CAC 40 in France inched up by 0.02%.

This move comes after U.S. equities rallied in the previous session, with increasing optimism that the Fed will slow its recent cycle of monetary tightening when policymakers meet next week. Some officials at the U.S. central bank, including Fed governor Christopher Waller, have supported a smaller 25-basis point rate hike despite ongoing concerns about how long it will take for inflation in the U.S. to fall back to the Fed's 2% target. Additionally, traders were evaluating preliminary PMI data from the Eurozone that showed unexpected growth in business activity in January.

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