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Eurozone GDP Development Slows, Euro Nonetheless Beneath Downward Stress

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)

Latest EURUSD price chart.

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.

Sources that can assist you commerce the foreign exchange markets:

Whether or not you’re a new or an skilled dealer, at DailyFX we now have 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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