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

    Source Fxstreet
    January 30, 2024 10:07

    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.
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    USD/CHF consolidates above 0.8800, focus on US, Swiss GDP dataThe USD/CHF pair trades sideways above the 0.8800 mark during the early European session.
    Source  Fxstreet
    The USD/CHF pair trades sideways above the 0.8800 mark during the early European session.
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    EUR/USD hovers around 1.0825 after retreating from three-week highThe EUR/USD pair attracts some dip-buying on Friday and seems to have stalled the previous day's retracement slide from the vicinity of the 1.0900 mark, or a nearly three-week high.
    Source  Fxstreet
    The EUR/USD pair attracts some dip-buying on Friday and seems to have stalled the previous day's retracement slide from the vicinity of the 1.0900 mark, or a nearly three-week high.
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    USD/INR: Strong growth backdrop and stable interest rates are helping to stabilize the Rupee – CommerzbankUSD/INR is back to the lower end of the 82.70-83.50 range since the start of the year.
    Source  Fxstreet
    USD/INR is back to the lower end of the 82.70-83.50 range since the start of the year.
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