Eurozone GDP and EUR: costs, information and evaluation:
The Eurozone economic system expanded by simply zero.2% quarter/quarter within the ultimate three months of 2018 and by a mere 1.2% 12 months/12 months.
The poor information will do little to prop up EURUSD, which has been weakened by a stronger US Greenback.
Weak Eurozone This autumn GDP
Financial progress within the Eurozone was a miserly zero.2% quarter/quarter within the ultimate three months of 2018, leaving 12 months/12 months GDP progress at simply 1.2%, in line with the newest information.
The figures adopted information that the German economic system didn’t increase in any respect within the fourth quarter, whereas Italy fell right into a technical recession. Now, it appears seemingly that progress within the Eurozone this 12 months might be as little as 1%.
Within the meantime, the Euro may nicely weaken additional given the political issues in Spain and unfavourable German authorities bond (Bund) yields proper as much as nine-year-maturity debt. Right here’s how EURUSD reacted to the newest numbers:
EURUSD Value Chart, 5-Minute Timeframe (February 13/14, 2019)
Chart by IG (You’ll be able to click on on it for a bigger picture)
Within the recording above you’ll be able to hearken to my webinar on the information and the markets forward of and after the figures had been launched.
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— Written by Martin Essex, Analyst and Editor
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