Eurozone Prelim flash GDP estimate overview At 1000 GMT, the first reading of the Eurozone third-quarter GDP figures will be reported. The consensus amongst traders expects the bloc’s economic growth to steady at 0.4% inter-quarter in Q3, while on an annualized basis, is expected to drop to 1.8% versus 2.1% booked last. Deviation impact on EUR/USD Readers can find FX Street’s proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 70 pips in deviations up to 4 to -2.5, although in some cases, if notable enough, a deviation can fuel movements of up to 120-130 pips. How could affect EUR/USD? From a technical perspective, upbeat Eurozone GDP figures could add extra legs to the EUR/USD bounce, fuelling a break above the 5-day EMA at 1.1397. A sustained move above the last could open doors for a test of 1.1422/23 (Oct 26 high/ 10-DMA) and 1.1479 (20-DMA). On the flip side, a bigger-than-expected drop in the annualized reading could drag the spot back to the YTD lows of 1.1334, below which the next supports are aligned at 1.1300 (daily classic S3/ Aug lows) and 1.1250 (psychological levels). Key Notes Market themes of the Day: The Eurozone GDP headlines with Italy in focus Eurozone GDP amongst market movers today – Danske Bank EUR/USD Technical Analysis: Declining resistance keeping the Fiber under bearish wraps About Eurozone Q3 Prelim flash GDP The Gross Domestic Product released by the 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 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). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Eurozone: Focus on GDP and German inflation figures – TDS FX Street 4 years Eurozone Prelim flash GDP estimate overview At 1000 GMT, the first reading of the Eurozone third-quarter GDP figures will be reported. The consensus amongst traders expects the bloc's economic growth to steady at 0.4% inter-quarter in Q3, while on an annualized basis, is expected to drop to 1.8% versus 2.1% booked last. Deviation impact on EUR/USD Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 70 pips in deviations up to 4 to -2.5, although in some cases, if notable enough, a deviation can… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
