EUR/USD at 1.1034. Eurozone GDP grew by 0.3% in Q4 2015.

EUR/USD was trading slightly above the previous close during most of the time today. As of 12:00 PM EST the rate was standing at 1.1034, 0.17% above yesterday close.

The European Union’s statistics agency reported today the eurozone GDP results for a final quarter of 2015, according to which the economy of the eurozone had slowed slightly driven by slower growth in exports compared with growth in imports. The eurozone economy grew by 0.3% in Q4 2015, meeting the analysts’ estimates. According to Eurostat, the seasonally adjusted GDP increased by 1.6% compared with the same quarter of the 2014.

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Among member countries with the highest growth are Sweden (+1.3%), Estonia (+1.2%), Poland (+1.1%), Romania (+1.1%), Hungary (+1.0%) and Slovakia (+1.0%). Declines were recorded in Croatia (-0.5%) and Latvia (-0.3%).

“All in all, today’s data confirmed that the eurozone’s economic recovery remains fairly slow. We think that the ECB will need to act decisively on Thursday if it is to stand any chance of reviving growth and hitting its inflation target” said Jack Allen from Capital Economics.

European shares were mostly down today. The performance of major indices is presented below:

  • FTSE 100 closed at 6,125.44, down 0.92%.
  • CAC 40 dropped by 0.86% finishing at 4,404.02.
  • Euro Stoxx 50 was trading at 3,002.01 as of 5:50 PM GMT, which is 0.63% lower than the previous close.

Oil prices moderately declined today. As of 11:51 AM EST the WTI Crude was trading at $36.89 down 2.66% and Brent Crude at $39.96, which is 2.15% below the previous close.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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