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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
