German prelim GDP surprises the market – Euro didn’t bother to react!

According to Destatis, the German prelim GDP soared to 0.5%, up beating the expectations of 0.4% growth. Although the faster growth in the..

Written by: Arslan Butt • Tuesday, August 14, 2018 • 1 min read

• Last updated: Tuesday, August 14, 2018

According to Destatis, the German prelim GDP soared to 0.5%, beating the expectations of 0.4% growth. Although the faster growth in the economy is likely to put pressure on the ECB president Mario Draghi to keep the monetary policy tight. But until now, the Euro hasn’t shown any reaction to this.

EUR/USD – Technical Levels

Support Resistance
1.1374 1.1426
1.1358 1.1442
1.1332 1.1468
Key Trading Level: 1.14

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.