EUR outperforms modestly on firmer EZ GDP – Scotiabank
Source Fxstreet
Stronger than expected Q3 GDP from France (+0.5% Q/Q) helped lift Eurozone growth to a better–than-expected 0.2% in the quarter and 1.3% in the year, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
ECB is expected to hold
"The data gave the EUR a mild lift ahead of this morning’s ECB policy decision, where a third consecutive hold is likely. President Lagarde may reaffirm that policy is in a 'good place' right now as policymakers assess developments, pointing to steady rates persisting for some time."
"Spot is holding with recent ranges but the heavy sell-off in the EUR from yesterday’s intraday high strengthens resistance in the 1.1665/70 zone and rather tilts risks towards a retest of support at 1.1580. Key support is 1.1540."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Amazon (AMZN), the U.S. e-commerce leader and cloud giant, will report its Q3 2025 earnings after market close on Thursday, October 30.
France’s National Assembly moved to block European Central Bank’s planned digital euro and to favor Bitcoin and euro stablecoins.
After losing more than 0.4% on Wednesday, EUR/USD stages a rebound and trades above 1.1600.
The cryptocurrency market fails to rally amid US President Donald Trump’s discussion with Chinese President Xi Jinping in South Korea on Thursday, regarding trade barriers.
Gold (XAU/USD) attracts some buyers during the Asian session on Thursday and now seems to have snapped a four-day losing streak.
Related Instrument
