French FinMin Le Maire: GDP figures were not as bad as some had feared


Commenting on the French Q2 GDP report, Finance Minister Bruno Le Maire said the latest GDP figures were not as bad as some had feared.

Additional quotes

“We can improve matters, regarding the economy.”

“There are positive elements within the French economy.”

“We must continue with radical measures to deal with the economic situation.”

“We could do better than current forecast of 11% retraction for the French economy in 2020.”

France's INSEE official statistics agency reported preliminary Q2 GDP at -13.8% QoQ vs. -15.2% expected and -5.9% seen in Q1.

Market reaction

The shared currency pays little heed to the French and German macro news, as the EUR/USD pair remains at the mercy of the US dollar dynamics amid fiscal impasse and ahead of the US data.

The spot , currently, trades at 1.1882, still up 0.30% on the day.

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