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Euro Eases Gently After Poor Eurozone GDP Information, Italy in Recession

EUR value, information and evaluation:

Eurozone GDP progress within the fourth quarter of 2018 was unchanged from Q3’s zero.2% improve quarter/quarter, staying at its lowest fee in 4 years.

Italian GDP knowledge confirmed the nation is now in a technical recession.

The Euro eased barely on the figures however continues to be pushed principally by occasions within the US and by the Brexit negotiations between the UK and the EU.

Euro slips on Eurozone GDP knowledge

Financial progress within the Eurozone was simply zero.2% quarter/quarter within the fourth quarter of final 12 months based on preliminary “flash” knowledge. That was the identical progress fee as within the third quarter and was according to expectations, exhibiting progress caught at its lowest fee in 4 years.

In the meantime in Italy GDP contracted by zero.2% quarter/quarter in This fall after a zero.1% fall in Q3, placing Italy right into a technical recession.

In response, EURUSD slipped again, as did the Euro in opposition to the British Pound, Japanese Yen and Swiss Franc.

EURUSD Worth Chart, 5-Minute Timeframe (January 30-31, 2019)

Latest EURUSD price chart after Eurozone GDP.

Chart by IG (You possibly can click on on it for a bigger picture)

Wanting forward although, the Euro will probably be pushed principally by occasions within the US. Because the chart above exhibits, EURUSD jumped late Wednesday after extra dovish than anticipated feedback from the Federal Open Market Committee. The Fed saved US rates of interest unchanged, as anticipated, but in addition signaled a possible finish to fee hikes.

As for EURGBP, that can probably be pushed largely by the Brexit negotiations between the EU and the UK.

Extra to learn:

Utilizing Information and Occasions to Commerce Foreign exchange

The DailyFX Financial Calendar

Eurozone Debt Disaster Timeline

Sources that can assist you commerce the foreign exchange markets:

Whether or not you’re a new or an skilled dealer, at DailyFX we’ve many sources that can assist you:

— Written by Martin Essex, Analyst and Editor

Be at liberty to contact me through the feedback part under, through e mail at martin.essex@ig.com or on Twitter @MartinSEssex


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