The Euro jumped against the US Dollar on surprisingly strong German GDP data. However, the trend was reversed as the next data showed 0.6% growth pace in the EU. The EUR/USD currency pair added 21 base points or 0.18% to appreciate further to the 1.1720 mark. Destatis reported that German economy expanded at a better-than-anticipated pace of 0.8% in the third quarter, fuelled by higher capital investment and exports. The Euro zone’s GDP growth was stable at 0.6%, pointing to smaller differences in growth figures between the member states. In this regard, the 19-country monetary region is expected to grow at the strongest pace in a decade this year, which would bolster the case for the ECB to start monetary policy tighthening.
