The EZ GDP report failed to change the side move in the EUR/USD currency pair on Thursday. After the release, the Euro added 1 pip against the US Dollar to reveal bulls’ attempts to get back the strong footing for the currency, but the pair returned to 1.1630 on Wednesday.
The Eurostat release showed that the Euro zone’s quarterly GDP growth was slightly weaker at 0.6% in the September quarter. However, the yearly GDP growth rate edged higher to 2.5% in the Q3. Data also showed the bloc’s unemployment rate dropped to its nine-year low in the observed period. The Euro zone’s consumer inflation showed some signs of cooling, with the CPI at 1.4% in October, though analysts suggested it could reach 2% target in the next year.
