Eurozone Preliminary GDP arrives at 0% QoQ in Q4 vs. -0.1% expected

Source Fxstreet

The Eurozone economy stagnated on a quarterly basis in the three months to December of 2023, improving from a 0.1% contraction in the third quarter of 2023, the preliminary estimate released by Eurostat showed Tuesday.

The GDP data beat the market’s expectations for a 0.1% deceleration.

The bloc’s GDP  expanded at an annual pace of 0.1% in Q4 vs. 0% in Q3 while beating 0% expectations.

EUR/USD reaction to the Eurozone GDP report

EUR/USD was last seen trading at 1.0823, down 0.08% on the day. Eurozone GDP data failed to move a needle around the Euro.

Euro price today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.

  USD EUR GBP CAD AUD JPY NZD CHF
USD   0.07% 0.26% -0.04% 0.21% -0.08% 0.04% 0.17%
EUR -0.07%   0.19% -0.11% 0.13% -0.15% -0.03% 0.11%
GBP -0.26% -0.18%   -0.31% -0.07% -0.35% -0.22% -0.07%
CAD 0.04% 0.13% 0.30%   0.24% -0.04% 0.08% 0.23%
AUD -0.19% -0.12% 0.06% -0.24%   -0.28% -0.16% 0.00%
JPY 0.08% 0.16% 0.37% 0.05% 0.23%   0.12% 0.26%
NZD -0.04% 0.03% 0.22% -0.08% 0.17% -0.12%   0.14%
CHF -0.19% -0.11% 0.07% -0.22% 0.03% -0.27% -0.15%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold sits near record high as Fed rate cut bets keep USD depressedGold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
Author  FXStreet
Sep 16, Tue
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
placeholder
Bitcoin could rally alongside S&P 500 if Fed cut ratesBitcoin (BTC) could be poised for a price surge following its positive correlation with the S&P 500, as market participants anticipate a 25-basis-point rate cut from the Federal Reserve on Wednesday.
Author  FXStreet
23 hours ago
Bitcoin (BTC) could be poised for a price surge following its positive correlation with the S&P 500, as market participants anticipate a 25-basis-point rate cut from the Federal Reserve on Wednesday.
placeholder
AUD/JPY Price Forecast: Constructive outlook remains in play above 97.50The AUD/JPY cross extends the decline to near 97.80 during the Asian trading hours on Wednesday.
Author  FXStreet
21 hours ago
The AUD/JPY cross extends the decline to near 97.80 during the Asian trading hours on Wednesday.
placeholder
Gold pulls back from record highs as USD recovers ahead of Fed decisionGold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
Author  FXStreet
21 hours ago
Gold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
placeholder
Federal Reserve set to resume interest-rate cuts as concerns over labor market mountThe US Federal Reserve is expected to cut the policy rate for the first time in 2025.
Author  FXStreet
16 hours ago
The US Federal Reserve is expected to cut the policy rate for the first time in 2025.
Related Instrument
goTop
quote