The Euro zone's Flash GDP release had a little impact on the EUR/USD currency pair. The European single currency gained only 3 base points against the Greenback to find a temporary support above the 1.1729 level, which was overcome again in the Wednesday's evening. The pair is expected to gain further support in case of the strong performance of the EZ economy and higher political risks in the US.
The Eurostat reported that the GDP growth in the Euro zone was confirmed at 0.6% in the June quarter, in line with analysts' expectations. Despite the relatively strong Euro, the export sector kept on expanding amid solid global demand for German-made products, especially motor vehicles, while the largest economy remained the leading performer.
| Historical Data Table | |||||
| Date | 12.08.2016 | 15.10.2016 | 14.02.2017 | 16.05.2017 | 16.08.2017 |
| Actual | 0.30% | 0.30% | 0.40% | 0.50% | 0.60% |
| Forecast | 0.30% | 0.30% | 0.50% | 0.50% | 0.60% |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| EUR/USD | 1.17262 | 1.17292 | 0.03% | ||
| EUR/GBP | 0.90971 | 0.90951 | -0.02% | ||
| EUR/CHF | 1.14212 | 1.1422 | 0.01% | ||
| EUR/JPY | 130.05 | 130.088 | 0.03% | ||