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.
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