- Eurozone Preliminary GDP drops by 0.1% QoQ in Q3 vs. 0% expected
Market news
Eurozone Preliminary GDP drops by 0.1% QoQ in Q3 vs. 0% expected
The Eurozone economy contracted by 0.1%, on a quarterly basis, in the three months to September of 2023, missing the 0% estimates and slowing down from the pace of 0.1% seen in the first quarter of 2023, the preliminary estimate released by Eurostat showed Tuesday.
The old continent’s GDP grew by an annual rate of 0.1% in Q3 vs. a 0.5% expansion in Q2 while meeting 0.2% expectations.
EUR/USD reaction to the Eurozone GDP data
EUR/USD was last seen trading at 1.0654, up 0.41% on the day. Disappointing Eurozone GDP and inflation data checked the Euro recovery against the US Dollar.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Pound Sterling.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.37% | -0.17% | -0.09% | 0.05% | 1.05% | -0.13% | -0.05% | |
| EUR | 0.36% | 0.20% | 0.31% | 0.42% | 1.45% | 0.24% | 0.33% | |
| GBP | 0.17% | -0.21% | 0.11% | 0.21% | 1.21% | 0.06% | 0.13% | |
| CAD | 0.08% | -0.27% | -0.09% | 0.15% | 1.14% | -0.03% | 0.05% | |
| AUD | -0.07% | -0.43% | -0.21% | -0.12% | 0.99% | -0.18% | -0.11% | |
| JPY | -1.06% | -1.40% | -1.21% | -1.16% | -0.99% | -1.16% | -1.09% | |
| NZD | 0.13% | -0.25% | -0.05% | 0.06% | 0.16% | 1.16% | 0.06% | |
| CHF | 0.03% | -0.34% | -0.13% | -0.05% | 0.07% | 1.09% | -0.09% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
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).
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