German Preliminary GDP unexpectedly expands 0.2% QoQ in Q3 vs. -0.1% expected
- German GDP rises 0.2% QoQ in Q3 vs. -0.1% estimated.
- Annual German GDP contracts 0.2% in Q3 vs. -0.3% forecast.
- EUR/USD rises further on the upbeat German Q3 GDP report.
The German economy expanded by 0.2% over the quarter in the third quarter of 2024 after shrinking by 0.1% in the second quarter, according to the preliminary data published by Destatis on Wednesday. The market consensus was for a 0.1% decline.
Meanwhile, the annual GDP rate fell by 0.2% in Q3, following no growth reported in Q2 and against the -0.3% forecast.
EUR/USD reaction to the German GDP data
EUR/USD catches a fresh bid on the German GDP expansion, adding 0.32% on the day to trade near 1.0850, at the time of writing. The pair awaits the Eurozone Preliminary GDP and Germany’s inflation data for further incentives.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.32% | -0.06% | -0.28% | -0.07% | -0.33% | -0.43% | -0.14% | |
| EUR | 0.32% | 0.26% | 0.05% | 0.25% | -0.02% | -0.11% | 0.21% | |
| GBP | 0.06% | -0.26% | -0.20% | -0.01% | -0.29% | -0.38% | -0.06% | |
| JPY | 0.28% | -0.05% | 0.20% | 0.19% | -0.07% | -0.18% | 0.13% | |
| CAD | 0.07% | -0.25% | 0.01% | -0.19% | -0.27% | -0.37% | -0.05% | |
| AUD | 0.33% | 0.02% | 0.29% | 0.07% | 0.27% | -0.09% | 0.21% | |
| NZD | 0.43% | 0.11% | 0.38% | 0.18% | 0.37% | 0.09% | 0.31% | |
| CHF | 0.14% | -0.21% | 0.06% | -0.13% | 0.05% | -0.21% | -0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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.
