Latest data released by Destatis - 14 February 2020
- Prior (Q3) +0.1%; revised to +0.2%
- GDP non-seasonally adjusted +0.3% vs +0.2% y/y expected
- Prior +1.0%; revised to +1.1%
- GDP working day adjusted +0.4% vs +0.3% y/y expected
- Prior +0.5%; revised to +0.6%
Slight delay in the release by the source. German economic growth stagnated in Q4 last year but that is very much built into current sentiment already. The thinking is that 2020 would be where things start to look better so we'll see how things go amid the virus outbreak.
EUR/USD still trades tepidly around 1.0837 as the momentum continues to favour sellers ahead of key support around 1.0800-08 next.
