EUR/USD Firm Near $1.1300 Post-German GDP Figures

As reported by Destatis, the German gross domestic product (GDP) persisted almost at the previous quarter’s level after correction for the price, seasonal and calendar variations in the fourth quarter of 2018. Hence short-term economic growth in Germany revealed two trends in 2018.

Federal Statistical Office (Destatis) reports:

  • The first half of the year (+0.4% in the first quarter, +0.5% in the second quarter).
  • Small dip (-0.2% in the third quarter, 0.0% in the fourth quarter) was recorded in the second half of the year.
  • For the whole year of 2018, this was an increase of 1.4% (calendar adjusted: 1.5%).

The EUR/USD spiked to place high near $1.1294, but reversed gains the very next moment. The pair may face resistance at $1,1300 along with support around $1.1270.

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Arslan Butt
Index & Commodity Analyst
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.
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