Eurozone Preliminary GDP Data

• Germany’s GDP (y/y) (Q1), a fact of 0.6%, a forecast of 0.7%.
• Germany’s GDP (q/q) (Q1), fact 0.4%, forecast 0.4%.
• Eurozone GDP (q/q) (Q1),  fact of 0.3%, forecast of 0.4%.
• Eurozone GDP (y/y) (Q1), fact 1.3%, forecast 1.2%.

Preliminary data on the GDP of Germany and the eurozone for the first quarter turned out to be very ambiguous. Thus, data for Germany showed a slowdown in the first quarter to a minimum value of more than five years. And data on eurozone GDP as a whole turned out to be multidirectional. Thus, the annual rate continues to maintain growth potential on renewal. This can be regarded by the market as restrained positive statistics.

Fig. 1. Eurozone GDP chart (y) (Q1)

After very weak data on Germany’s GDP and rising pessimism on European stock indices, in the face of further pessimism, the EUR/USD pair may continue to strengthen. Support levels: 1.1200 and 1.1180, resistances: 11230 and 1.1250.

Fig. 2.  EUR/USD chart. The current price is 1.1210

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Hanzenko Anton

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