Euro drifting as Powell talks dovish
February 24, 2021SharePrint
The euro is unchanged in the European session. Currently, EUR/USD is trading at 1.2154, up 0.02% on the day.
German GDP posts small gain
Germany is the eurozone’s largest economy and has traditionally been the locomotive that leads the bloc in economic growth. With the eurozone grappling with the devastating effect of the Covid pandemic, Germany is again being counted on to lift the eurozone to recovery. Germany’s GDP for Q4 of 2020 showed negligible growth, although the gain of 0.3% managed to beat the street estimate of 0.1%. This follows a sharp gain of 8.5% in Q2, although that reading came after a decline of -9.7% in the first quarter.
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