Welcome to Tuesday!
Euro zone Q4 GDP tacks on 0.6%,in line with expectations
In the euro zone gross domestic product managed to grow as anticipated during the fourth quarter, as follows from preliminary official data published on Tuesday.
In its report, Eurostat informed that gross domestic product rallied a seasonally updated 0.6% for the final three months of the previous year. It turned to be in line with consensus estimate.
The third quarter expansion was updated higher to 0.7% versus the previous outcome of 0.6%.
Gross domestic product in the euro zone went up 2.7% in the fourth quarter year-on-year. That’s quite in line with estimates and compared to the 2.8% jump observed in the previous quarter that was updated up from the initial outcome of 2.6% surge.
After the publication of the GDP data, the currency pair EUR/USD remained intact, showing an outcome of 1.2398. At the same time EUR/GBP hit 0.8812 versus an earlier reading of 0.8810.
Meanwhile, EU stock markets kept trading lower, with SToxx, DAX, CAC 40 and FTSE 10 losing respectively 0.30%, 0.26%, 0.16% and 0.44%.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…