The euro fell against the US dollar today as virtually all economic reports released from the eurozone over the trading session failed to meet market expectations. The shared 19-nation currency also fell against the Swiss franc but fared better versus the Great Britain pound and the Japanese yen.
Eurozone seasonally adjusted gross domestic product rose 0.4% in the fourth quarter of 2016 while experts were anticipating the same 0.5% rate of growth as in the previous three months. Industrial production was down 1.6% in December from November instead of 1.4% predicted by analysts.
The ZEW Indicator of Economic Sentiment for Germany logged a drop from 16.6 to 10.4 in February. The indicator for the whole eurozone dropped from 23.2 to 17.1.
German preliminary GDP rose 0.4% in Q4 2016, missing the average forecast of 0.5%. The German Consumer Price Index fell 0.6% in January from the previous month.
EUR/USD dropped from 1.0597 to 1.0578 as of 21:25 GMT today after rallying to 1.0633 intraday. EUR/CHF opened at 1.0657, rallied to the high of 1.0673, but retreated to 1.0644 later. EUR/GBP was up from 0.8460 to 0.8529 but has pulled back to 0.8483 as of now. EUR/JPY gained from 120.51 to 120.84, bouncing from the daily low of 120.21.
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