France GDP q/q comes in at 0% against 0.2% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
France’s Gross Domestic Product (GDP) for the quarter registered 0%, according to data released today. This figure came in below the market consensus expectation of 0.2% growth. The previous quarter’s GDP was also 0.2%. The actual print represents a -100.0% surprise compared to the consensus forecast.
Following the release, the Euro saw a relatively small reaction across major pairs within the first 15 minutes. EURAUD moved -0.6 pips, EURCAD was flat at 0.0 pips, and EURCHF gained +0.4 pips. EURGBP also saw a small gain of +0.3 pips. EURJPY moved -1.8 pips, EURNZD moved -2.0 pips, and EURUSD gained +0.9 pips. These initial moves are small when compared to the typical 1-hour median moves observed after past releases. For instance, EURAUD typically sees a median 1-hour move of 11 pips, and EURUSD a median move of 8 pips.