Final German Q2 GDP data now out and springing no surprises

  • +0.4% prev
  • YY WDA +1.6% vs +1.6% exp vs
  • yy NSA +1.6% exp/prev
  • pvt consumption qq +0.2% vs +0.3% exp vs +0.4% revised down from +0.6%
  • govt spending qq +0.3% vs +0.2% exp vs +0.6% prev rev down from +0.7%
  • construction investment qq -1.2% vs +1.8% prev rev up from +1.7%
  • domestic demand qq -0.3% vs +0.6% prev rev up from +0.5%
  • exports qq +2.2% vs +1.8% exp vs +1.2% prev rev up from +0.8%
  • imports qq +0.8% vs +1.7% exp vs +1.9% rev up from +1.5%

Better exports vs forecast and higher revision but imports and domestic demand will remain a concern

EURUSD 1.1559 still trying to make its mind up but EURGBP 0.7338 off session lows of 0.7319, capping cable again