German Preliminary GDP contracts 0.1% QoQ in Q2 vs. 0.1% growth expected
Source Fxstreet
- German GDP falls 0.1% QoQ in Q2 vs. 0.1% forecast.
- Annual German GDP contracts 0.1% in Q2 vs. 0% estimates.
- EUR/USD shrugs off the downbeat German Q2 GDP report.
The German economy contracted by 0.1% over the quarter in the second quarter of 2024 after growing 0.2% in the first quarter, the preliminary data published by Destatis showed on Tuesday. The data missed the expected 0.1% increase.
Meanwhile, the annual GDP rate declined by 0.1% in Q2, compared with a 0.2% contraction in Q1 and the 0% forecast.
EUR/USD reaction to the German GDP data
EUR/USD ignores the German GDP contraction, adding 0.04% on the day to trade at 1.0825, at the time of writing. The pair awaits the Eurozone Preliminary GDP and Germany’s inflation data for a fresh directional impetus.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Kevin Hassett is now backing out of the race to lead the Federal Reserve, and Trump doesn’t seem to mind.Kevin Hassett is now backing out of the race to lead the Federal Reserve, and Trump doesn’t seem to mind. The White House economic adviser said on Fox News’ The Sunday Briefing that he and the president have been talking “from the beginning” about whether he’d be more useful staying in the West Wing or […]
Kevin Hassett is now backing out of the race to lead the Federal Reserve, and Trump doesn’t seem to mind. The White House economic adviser said on Fox News’ The Sunday Briefing that he and the president have been talking “from the beginning” about whether he’d be more useful staying in the West Wing or […]
TradingKey - A significant drop in rate cut expectations and liquidity depletion, among other factors, have triggered a cryptocurrency plunge; Bitcoin may briefly fall to $90,000.On Monday (January 19
Meme Coins Price Prediction: DOGE, SHIB and PEPE tumble with Bitcoin, as support levels come into focusDOGE, SHIB and PEPE extend Monday losses as BTC drops below $93,000; DOGE stays under $0.1375/$0.1417 EMAs, SHIB eyes $0.00000678 support, and PEPE risks a slide below $0.00000500 toward $0.00000363.
DOGE, SHIB and PEPE extend Monday losses as BTC drops below $93,000; DOGE stays under $0.1375/$0.1417 EMAs, SHIB eyes $0.00000678 support, and PEPE risks a slide below $0.00000500 toward $0.00000363.
Gold Price Forecast: XAU/USD surges to all-time high above $4,650 amid Greenland tariff threatsGold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
The crypto market structure bill has encountered opposition led by Coinbase and is currently stalled, but it is expected to eventually pass and propel the crypto market forward.According
Related Instrument
