France GDP q/q comes in at 0.2% against 0.1% consensus

France’s Gross Domestic Product for the second quarter came in at 0.2% quarter over quarter. This figure exceeded the consensus expectation of 0.1%. The previous quarter’s GDP was -0.1%. The actual print represented a 100.0% surprise versus the consensus.

The EUR pairs showed limited movement in the 15 minutes following the release. EURAUD was down 2.0 pips, EURCAD was down 1.8 pips, and EURUSD was down 3.6 pips. EURCHF gained 1.6 pips. EURGBP declined 1.4 pips, EURJPY fell 2.5 pips, and EURNZD was down 4.5 pips. These movements are small when compared to the typical median 1-hour moves observed after past releases. For example, EURUSD typically sees a median 1-hour move of 8 pips, while EURAUD typically moves 11 pips, and EURNZD typically moves 14 pips.