When is the Eurozone flash GDP and how could it affect EUR/USD?

Eurozone flash GDP Overview

The second reading of the Eurozone fourth-quarter GDP figures is due later today at 1000GMT. The consensus amongst traders expects the bloc’s economic growth to remain steady at 0.2% inter-quarter in Q4 while on an annualized basis, is also expected to remain unchanged at 1.2%.

 How could affect EUR/USD?

On a positive surprise, the EUR bulls could flex their muscles further, pushing the EUR/USD pair back through the 1.1300 mark. However, the spot could change the course and drop back towards the 1.1250 demand zone should the data disappoint.    

In terms of technicals, “initial support is at 1.1260, around the initial two-month low seen early in the week. The fresh trough of 1.1248 is close by. 1.1215 was the lowest point in 2018 and significant support. The next lines date back to 2017: 1.1200 and 1.1115 are eyed. 1.1290 is the January low and is the immediate resistance line. Further up, Wednesday's peak at 1.1340 is the next cap. 1.1405 was a swing low several weeks ago and is also where the 200 SMA meets the chart,” FXStreet’s Analyst Yohay Elam notes.

Key Notes

Market themes of the Day: The Eurozone GDP and US retail sales in focus

German prelim GDP arrives at 0.0% in Q4 vs +0.1% expected

EUR futures: room for extra pullbacks

About Eurozone flash GDP

The Gross Domestic Product released by the 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 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).

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.

Feed news

EUR/USD nears daily lows as risk turns off

Global economic slowdown, Brexit stalemate, and dovish central banks are taking their toll on the financial world, with equities giving up, and the dollar taking advantage of it.

EUR/USD News

GBP/USD slips from the highs amid concerns about Brexit, global economy

GBP/USD trades in the mid 1.3000s, off the highs.,The clock is ticking towards Brexit and worries about the global economy also weigh. US data came out below expectations. 

GBP/USD News