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Germany Grew by 0.5% in Q3, as Expected – EUR/USD

Europe’s locomotive continues pushing forward. Germany enjoyed a growth rate of 0.5% in Q3. This is exactly as expected. Year over year growth is 2.5%.  The figure for Q2 was revised to the upside: instead of only 0.1% growth, Germany grew by 0.3%. So, the growth rate of 0.5% in Q3 comes on top of a better Q2.

EUR/USD continues to edge higher, rising to 1.36. It began stabilizing after the release of French GDP, and is now edging up very carefully.

France grew at a rate of 0.4%, a bit better than expected. On the other hand, Q3 growth was revised to the downside: from no growth to a 0.1% contraction.

Resistance is at 1.3650. The pair traded under this line for many hours, before dipping lower. Support is at 1.3550. For more lines, see the EUR/USD forecast.

The figure for the whole continent is due at 9:00 GMT. Expectations stand on a slower growth rate than the two large countries: only 0.2%. Some countries, such as Greece, are in a recession, and the larger countries such as Spain are hardly growing.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.