Euro falls after disappointing German Q3 GDP

The euro was weighed down after disappointing GDP growth figures out of Germany and Italy. EUR/USD traded down to as low as 1.0752 in early morning European session trading.

Germany is the largest Eurozone economy as is seen as the engine of growth in the euro area. German third quarter GDP growth slowed due to foreign trade being a drag on the economy as its reliance on exports exposes it to a slowdown in emerging markets.

GDP grew 0.3 percent on the quarter, in line with the consensus forecast, after expanding 0.4 percent in the prior three months.

Italy’s economy expanded at a slower pace than forecast in the third quarter, signaling difficulties in returning to sustainable growth.

Gross domestic product expanded 0.2 percent in the three months through September. This was below the 0.3 percent estimate. GDP rose 0.9 percent from a year earlier, the report said.

The post Euro falls after disappointing German Q3 GDP appeared first on FXTM Blog.

Source:: Euro falls after disappointing German Q3 GDP

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