Eurozone Preliminary GDP expands by 0.1% QoQ in Q1 vs. 0.2% expected

Dhwani Mehta FXStreet

The preliminary release published by Eurostat revealed on Friday that the Eurozone economy expanded by 0.1% on a quarterly basis in the three months to March of 2023, missing the 0.2% expected and against the no growth seen in the previous quarter.

The bloc’s annual GDP rate grew by 1.3% in the first quarter (Q1) vs. a 1.8% print registered in the final quarter of 2022 while falling short of the 1.4% expectations.

Market reaction

EUR/USD was last seen trading at 1.0985, down 0.37% on the day. The Euro is consolidating the decline, triggered by the downbeat German GDP data and broad-based US Dollar rebound.

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

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.

GBP/USD remains stuck in tight range above 1.3600

GBP/USD extends its consolidation into a second consecutive day on Tuesday and fluctuates in a narrow band above 1.3600. The US Dollar stabilizes as investors assess US sanctions on Iran, while diplomatic efforts creep back amid reports that Pakistan is carrying an offer to Iran to halt the siege and lift sanctions under the Memorandum of Understanding.

EUR/USD stays below 1.1700 after weak US consumer confidence data

EUR/USD struggles to gather recovery momentum and trades below 1.1700 in the second half of the day on Tuesday. The US Dollar (USD) benefits from the cautious mood as investors assess the latest developments in the Middle East. Meanwhile, disappointing consumer sentiment data from the US helps the pair hold its ground.

Gold takes a breather after climbing to a fresh three-month high, US PCE in focus

Gold (XAU/USD) extends its intraday decline during American trading hours on Tuesday after setting a fresh three-month high of $4,697 earlier in the day.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Nvidia earnings: A quick look at expectations

The 2026 Q2 earnings season is nearly over for S&P 500 members, with the reporting cycle notably positive. But looming large this week is none other than AI-favorite NVIDIA (NVDA) , whose results will wrap up the reporting cycle for the Magnificent Seven group as well.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.