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EUR/USD Little Changed After German Prelim GDP Arrives At 0.0% In Q4 VS +0.1% Expected


Friday, 14 February 2020 14:18 WIB

EUR/USD


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The German economy showed no growth inter-quarter in the fourth quarter of 2019, arriving at 0.0% against expectations of +0.1%, the preliminary report by Destatis showed this Friday.

Meanwhile, the yearly rate grew by 0.3% in Q4 as compared to the previous reading of +1.0%, but bettered market expectations of 0.2 % expansion.

The Gross Domestic Product released by the Statistisches Bundesamt Deutschland is a measure of the total value of all goods and services produced by Germany. The GDP is considered as a broad measure of the German economic activity and health. A high reading or a better than expected number has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

The shared currency showed little reaction to the mixed German growth numbers, with EUR/USD keeping its range near 1.0840 region. The spot hit a new 34-month low at 1.0828 in early Asia.

Source : FX Street


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