The Euro depreciated against the US Dollar, following the EU Prelim Flash GDP data release on Tuesday at 10:00 GMT. The EUR/USD exchange currency rate lost 30 pips or 0.25% after the release. The Euro continued trading at the 1.2030 level against the Greenback after the release.
Eurostat released the EU Prelim Flash GDP data, which came out better-than-expected of negative 0.7% compared with the forecast of negative 0.9%.
According to the official release: "In the fourth quarter 2020, seasonally adjusted GDP decreased by 0.7% in the euro area and by 0.5% in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. These declines, related to COVID-19 containment measures, follow a strong rebound in the third quarter of 2020 (+12.4% in the euro area and +11.5% in the EU) and the sharpest decreases since time series started in 1995 observed in the second quarter of 2020 (-11.7% in the euro area and -11.4% in the EU)."
| Date | 31.01.20 | 30.04.20 | 31.07.20 | 30.10.20 | 02.02.21 |
|---|---|---|---|---|---|
| Actual | 0.1% | -3.8% | -12.1% | 12.7% | -0.7% |
| Forecast | 0.2% | -3.7% | -12.0% | 9.5% | -0.9% |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/CHF | 1.08156 | 1.08106 | -0.05% |
| EUR/GBP | 0.88168 | 0.88025 | -0.16% |
| EUR/JPY | 126.62100 | 126.401 | -0.17% |
| EUR/USD | 1.20674 | 1.20423 | -0.21% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/CHF | 51.5% | 48.6% |
| EUR/GBP | 61.6% | 38.4% |
| EUR/JPY | 39.8% | 60.2% |
| EUR/USD | 51.3% | 48.7% |
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