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

Posted Thursday, February 14, 2019 by
Arslan Butt • 1 min read

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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