Big improvement in services sentiment – ING
Fundamental Forex Analysis

Euro area annual GDP expands by 1% in Q4 vs. 0.9% expected

  • Annual GDP growth in the euro area ticked up to 1% in Q4. 
  • EUR/USD continues to trade deep in red following Monday’s rally.

Seasonally adjusted Gross Domestic Product in the euro area expanded by 0.1% on a quarterly basis in the fourth quarter as expected and lifted the annual growth rate to 1% from 0.9%, the data published by the Eurostat showed on Tuesday. 

“For the year 2019 as a whole, GDP grew by 1.2% in the euro area and by 1.5% in the EU27, after +1.9% and +2.1% respectively in 2018,” the Eurostat further added in its publication.

Other data revealed that the Employment Change was up 0.3% in the same period as anticipated.

EUR/USD reaction

The EUR/USD pair largely ignored these data and was last seen trading at 1.1350, erasing 0.85% on a daily basis.

Source Link