The Eurozone economy expanded by 0.3% on quarter in the three months to December of 2021, meeting 0.3% expected and 2.3% prior, the preliminary estimate showed on Monday. 

On an annualized basis, the bloc’s GDP rate rose by 4.6% in Q4 vs. 3.9% booked in the third quarter of 2021 while missing 4.7% expectations.

FX implications

The euro appears unfazed by the mixed Eurozone GDP report, as EUR/USD remains underpinned by the US dollar’s corrective pullback across the board. The spot is last seen trading at 1.1177, up 0.30% on a daily basis.

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).