Home German GDP grows by 0.6% in Q1 2017 as expected
Forex News Today: Daily Trading News

German GDP grows by 0.6% in Q1 2017 as expected

The continent’s largest economy is growing at an accelerated pace: 0.6% in the first quarter of 2017. Year over year, the growth rate is 1.7%. Both figures come out as expected.

EUR/USD trades steadily at 1.0870.

In a separate publication, final CPI numbers are confirmed at 0% m/m and 2% y/y. Revisions to inflation data are not common.

The German economy was expected to grow at a robust rate of 0.6% in Q1 2017, following 0.4% in Q4 2016. Growth data has already been released for the wider euro-zone, and it stood at 0.5%. The numbers from the continent’s largest economy will significantly shape the final data.

EUR/USD was trading steadily at 1.0870. After Macron’s ascendancy to the French presidency, the common currency “sold the fact” and lost ground. However, it stayed shy of the big gap that followed the first round of the elections.

Top-tier is released  later by the US: retail sales, CPI, and consumer sentiment.

More:  EUR/USD: ‘Confident’ EUR Has Bottomed Out; En-Route To 1.14 – BTMU

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.