Euro GDP, Inflation and US Jobless Claim Impact. Poll

Overnight the European Commission Eurostat realeased a couple of announcement GDP and Inflation reports. Eurostat said that the Eurozone is technically in recession for the third quarter of 2012 (

The report hasn’t scared the markets so much because it was expected a drop of -0.2%. Therefore financials markets across Europe haven’t done so badly except for the DAX (German Index) that have fallen by around 56 point at the moment. And since the European GDP is negative but better than expected, the EUR/USD pair has benefit from the not so bad news. The pair has increased by 40 pips to 1.2776.

The other information that has been digested by the markets is the EU inflation report, which highlights that the Euro area annual inflation is down to 2.5%. Which in fact, will also help their Euro currency to perform better, at least today.

The EUR/USD pair should be watched by CFD and Forex traders as the chart is effectively in a turning point. Today’s announcement will not be enough to define if the pair will continue a downtrend, or will turn into a new direction.


While European news could have a small impact en the rest of the world financial markets. In Wall Street this morning investor/traders will also be busy reading the US CPI (Consumer Price Index)  and Jobless Claims highlights. The Consumer Price Index in October slowed to a 0.1 percent increase after a 0.6 percent spike the prior month. The expectation was for a 0.1 percent gain, so would not be a big reaction to this.

In the other hand, Jobless Claims increased by 78 000 much more than estimated, the sudden jump in claims is been blame on the effect of the hurricane Sandy. Which means, that the market will be happy with the cause of the increase  and basically ignore the report until next week or so.

Sorry, there are no polls available at the moment.












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