EUR/USD little changed after German Prelim GDP arrives at 0.0% in Q4 vs. +0.1% expected
|- German GDP arrives at 0.0% QoQ in Q4 vs. +0.1% expected.
- German GDP stands at +0.3% YoY in Q4 vs. +0.2% expected.
The German economy showed no growth inter-quarter in the fourth quarter of 2019, arriving at 0.0% against expectations of +0.1%, the preliminary report by Destatis showed this Friday.
Meanwhile, the yearly rate grew by 0.3% in Q4 as compared to the previous reading of +1.0%, but bettered market expectations of 0.2 % expansion.
About German Prelim GDP
The Gross Domestic Product released by the Statistisches Bundesamt Deutschland is a measure of the total value of all goods and services produced by Germany. The GDP is considered as a broad measure of the German economic activity and health. A high reading or a better than expected number has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
EUR/USD unmoved
The shared currency showed little reaction to the mixed German growth numbers, with EUR/USD keeping its range near 1.0840 region. The spot hit a new 34-month low at 1.0828 in early Asia.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.