Germany Q3 preliminary GDP +0.2% vs -0.1% q/q expected

• Prior -0.1%

Surprise, surprise. The German economy manages to avoid a technical recession with Q3 GDP growth coming in better than anticipated. That is pushing up the euro slightly now, with EUR/USD up to 1.0850 from around 1.0830-40 earlier. It still doesn’t quite change the overall picture for the ECB in my view. But this will at least calm fears of the ECB needing to move by 50 bps in December at least.

This article was written by Justin Low at www.forexlive.com.