Euro Little-Changed on Revised German 4Q GDP Data
- Final 4Q’13 German GDP in Line with Estimates
- Euro Little-Changed vs US Dollar After Data Crossed the Wires
- Focus Shifts to Euro-zone’s February CPI Release Due Later This Week
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The Euro was little-changed as revised GDP data showed the German economy continued to grow moderately in the fourth quarter. The final revision of 4Q’13 German GDP came in as expected, with the benchmark year-on-year growth rate confirmed at 1.3 percent and the month-on-month change matching earlier estimates to show a 0.4 percent rise. German GDP headlined event risk in European trading hours, but inflation data continues to draw a stronger and lasting response as it directly shapes European Central Bank’s (ECB) monetary policy. Yesterday, the Eurozone CPI figure for January dropped a record 1.1 percent, and now traders shift their focus to Thursday’s February CPI for further directional cues on ECB’s monetary policy.
EUR/USD 5-Minute Chart. February 25, 2014
Charted created by David Maycotte using Marketscope 2.0.
-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to firstname.lastname@example.org.
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