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Eurozone GDP growth turns positive in Q2, EUR/USD slips

Eurostat data showed quarterly growth of 0.4%, while EUR/USD was last near 1.1453, down 0.1% after having rebounded from 1.1435.

Reported · Written up by our desk · Major Pairs

Eurostat data showed Eurozone GDP turned positive in the second quarter after a 0.2% decline in the prior quarter. Growth rose 0.4% quarter over quarter, beating expectations for 0.2%, and year over year growth stayed stronger at 1.0% versus 0.5% estimates.

Despite the upside macro print, FXStreet said the euro showed muted reaction. At the time of the report, EUR/USD was trading 0.1% lower around 1.1453, after rebounding from the day’s low near 1.1435.

FXStreet noted traders appeared cautious following the release, with the focus shifting to upcoming policy and US data. The euro stayed on the back foot even as German Q2 GDP was also described as better than expected.

Latest closeEUR/USD 1.147 ▲0.9%

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