EURUSD - 08/06
Updated
Eurostat's final estimate, published on Thursday, confirmed that the Eurozone economy shrunk in the first quarter of 2023. The Gross Domestic Product (GDP) in the continent contracted by 0.1% compared to the previous quarter.
This was in contrast to the preliminary figure which showed a 0.1% growth.
The market did not expect any change.
On a yearly basis, the GDP grew 1.0%, which was lower than the initial estimate of 1.3% and also missed the market expectation of a 1.2% increase.
The Final Employment Change in the Eurozone was 0.6% and 1.6% on a monthly and yearly basis respectively.
This was in contrast to the preliminary figure which showed a 0.1% growth.
The market did not expect any change.
On a yearly basis, the GDP grew 1.0%, which was lower than the initial estimate of 1.3% and also missed the market expectation of a 1.2% increase.
The Final Employment Change in the Eurozone was 0.6% and 1.6% on a monthly and yearly basis respectively.
Note
Turkish state banks are once again providing support to the lira after a brief pause in selling dollars on Wednesday led to the currency's largest decline in over a year.
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