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French Economy Jumps 0.5% in Q2 2013 – EUR/USD rises

The French economy exited its recession and with a bang. The economy grew by a strong 0.5% in the second quarter, according to the initial release. It was expected to grow by 0.1%, after two quarters of squeezing by 0.2% and suffering an official recession. France is Europe’s second largest economy.

EUR/USD traded quietly around 1.3255 prior to the publication. The pair moved higher with a small gap and jumped above 1.3260. Update: It is now moving above 1.3270.

The National Institute of Statistics and Economic Studies reported that this is the largest increase since Q1 2011. The annual growth rate is 0.1%. Households’ consumption rose by 0.4% while general government’s consumption expenditure rose by 0.5%. Exports jumped by 2% and imports by 1.9%. All in all, France enjoyed a significant rise in economic activity.

From France, the next event is the preliminary Non-Farm Payrolls change. For the euro, the German GDP will be released soon, and it carries a lot of weight.

See how to trade the German GDP with EUR/USD.

Update: Also Germany exceeded expectations and grew by 0.7%.

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.