Current GDP of Germany -0.2% vs Forecast 0.1%, EURUSD Declines

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Update: Thursday, 30/01/2025 - 16:01 PM
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Germany has released its economic growth data (Gross Domestic Product/GDP) which has influenced the movement of EURUSD in trading on Thursday (January 30, 2025). The GDP for the fourth quarter of 2024 was reported at -0.2% year-on-year (YoY), falling short of the forecast by Trading Central, which had predicted a 0.1% YoY increase.

Following this announcement, EURUSD dropped to around 1.04030.

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This data underscores the uneven economic conditions within the Eurozone, where Germany is experiencing a slowdown in growth. Unfortunately, as the largest economy in Europe, any decline in Germany’s growth is likely to have a negative ripple effect on other countries.

The release has bolstered expectations that the European Central Bank (ECB) could lower interest rates later tonight. Additionally, there is a possibility that the ECB may adopt a dovish stance, indicating further interest rate cuts, which could exert downward pressure on EURUSD.

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