The eurozone once again missed estimates for GDP and officials continue to talk about more stimulus. As a result, the euro is once against struggling against many of its major counterparts in Forex trading.
The results for the third quarter economic reports are in for the eurozone, and once again the 19-nation currency region has disappointed analysts. GDP rose by 0.3 per cent for the third quarter, after seeing 0.4 per cent growth in the previous quarter.
Not only does this show a slowing eurozone economy, but the numbers also missed estimates that aimed for 0.4 per cent growth. The slowing nature of the 19-nation currency region’s economy is weighing on euro performance today.
Indeed, many expect the ECB to announce more stimulus next month after a policy meeting. The nature of growth in the eurozone has been troubling leaders for quite some time, and Mario Draghi has been hinting rather strongly that more efforts to ease policy are likely.
This is in contrast with the Fed and the BOE, which are both trying to figure out when to tighten policy.
At 15:12 GMT EUR/USD is down to 1.0735 from the open at 1.0810. EUR/GBP is also lower, down to 0.7053 from the open at 0.7100. EUR/JPY is down to 131.7710 from the open at 132.5420.
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