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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Gold selling pressure persists as traders lock in profits ahead of US NFP reportGold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Gold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
BTC holds above $90,000, ETH hovers near $3,128 at the 50-day EMA, and XRP steadies above $2.07 as traders weigh rebound targets and key downside levels.
Solana Future: From high-speed experiment to corporate treasury playbook for the next SOL cycleSolana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.
Solana’s Proof of History architecture is colliding with rising institutional treasury adoption and governance scrutiny, with SOL’s next cycle hinging on validator distribution, stability, and regulated capital access.
Related Instrument
