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The Euro jumped against the US Dollar on surprisingly strong German GDP data. However, the trend was reversed as the next data showed 0.6% growth pace in the EU. The EUR/USD currency pair added 21 base points or 0.18% to appreciate further to the 1.1720 mark.
Destatis reported that German economy expanded at a better-than-anticipated pace of 0.8% in the third quarter, fuelled by higher capital investment and exports. The Euro zone's GDP growth was stable at 0.6%, pointing to smaller differences in growth figures between the member states. In this regard, the 19-country monetary region is expected to grow at the strongest pace in a decade this year, which would bolster the case for the ECB to start monetary policy tighthening.
| Historical Data Table: German Flash GDP q/q | Economic Calendar for 15.11.2017 | ||||||||
| Date | 15.10.2016 | 14.02.2017 | 12.05.2017 | 15.08.2017 | 15.08.2017 | 9:30 AM | UK Average Earning Index | ||
| Actual | 0.20% | 0.40% | 0.60% | 0.60% | 0.80% | 1:30 PM | US CPI m/m | ||
| Forecast | 0.30% | 0.50% | 0.60% | 0.70% | 0.60% | 1:30 PM | US Retail Sales m/m | ||
| Initial Reaction on Main Pairs 7:00 GMT | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| EUR/USD | 1.16651 | 1.16863 | 0.18% | EUR/USD | 43.79% | 56.21% | |||
| EUR/GBP | 0.8902 | 0.89179 | 0.18% | EUR/GBP | 29.71% | 70.29% | |||
| EUR/CHF | 1.16313 | 1.16472 | 0.14% | EUR/CHF | 29.91% | 70.09% | |||
| EUR/JPY | 132.591 | 132.841 | 0.19% | EUR/JPY | 41.92% | 58.08% | |||