German Preliminary GDP rises 0.2% QoQ in Q1 vs. 0.1% expected
|- German GDP rebounds 0.2% QoQ in Q1 vs. 0.1% estimate.
- Annual German GDP contracts 0.2% in Q1 vs. -0.2% anticipated.
- EUR/USD shrugs off the mixed German Q1 GDP report.
The German economy grew 0.2% over the quarter in the first quarter of 2024 after contracting 0.3% in the last quarter of 2023, according to the preliminary data published by Destatis on Tuesday. The data surpassed the expected 0.1% expansion.
Meanwhile, the annual GDP rate declined by 0.2% in Q1, at the same pace as seen in the fourth quarter of last year while matching the market expectations.
Germany’s Unemployment Rate held steady at 5.9% in April while Unemployment Change stood at 10K, higher than the 7K expected.
EUR/USD reaction to the German GDP data
EUR/USD paid little attention to the German GDP report, losing 0.16% on the day to trade at 1.0702, at the time of writing. The pair awaits the Eurozone Preliminary GDP and inflation data for a fresh directional impetus.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.13% | 0.17% | 0.20% | 0.53% | 0.37% | 0.57% | 0.26% | |
| EUR | -0.13% | 0.04% | 0.07% | 0.40% | 0.29% | 0.44% | 0.12% | |
| GBP | -0.17% | -0.05% | 0.03% | 0.35% | 0.19% | 0.39% | 0.08% | |
| CAD | -0.20% | -0.07% | -0.03% | 0.32% | 0.15% | 0.37% | 0.05% | |
| AUD | -0.53% | -0.39% | -0.35% | -0.32% | -0.17% | 0.03% | -0.27% | |
| JPY | -0.37% | -0.23% | -0.19% | -0.17% | 0.15% | 0.20% | -0.14% | |
| NZD | -0.55% | -0.44% | -0.43% | -0.37% | -0.05% | -0.20% | -0.31% | |
| CHF | -0.23% | -0.13% | -0.08% | -0.04% | 0.27% | 0.14% | 0.31% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.