He Gross Domestic Product (GDP) of the Eurozone has grown by 0.6% in the second quarter of the year, according to the annual preliminary reading published by Eurostat. The result coincides with market expectations and represents a setback compared to the 1% growth of the previous quarter.
On a quarterly basis, GDP has grown by 0.3% after contracting by 0.1% in the first quarter of the year. The reading coincides with the forecasts of the consensus.
On the other hand, the euro area has published its figures for June industrial production, showing a monthly growth of 0.5% compared to 0% in May and improving the estimated -0.1%. At an annual level, the indicator has fallen 1.2% after falling 2.5% the previous month, although it moderates the 4.2% drop expected by experts.
EUR/USD reaction
He EUR/USD it is moving higher from the European open, hitting a daily high at 1.0934 just before the European data. At time of writing, the pair is holding firm trading above 1.0930 and gaining 0.21% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
