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Euro is trading against the currencies after the GDP data

2019-04-30 10:03 am | Resource: News | No Views : 165

 Euro is trading against the currencies after the GDP data

The Euro was mixed against major currencies on Tuesday after a number of data from the Eurozone topped unemployment, GDP and unemployment in Germany.

The unemployment rate in the euro area was 7.7% in March

The seasonally adjusted unemployment rate in the eurozone reached 7.7% in March, down from the February figure of 7.8%, the Eurostat said in a statement released on Tuesday. On an annualized basis, the figure in March is less than 8.5% recorded in the same month last year. In addition, unemployment data for March indicate the lowest unemployment rate in the euro zone since September 2008.

For the EU, the unemployment rate was 6.4% in March, down from 6.5% in the previous month. In addition, the figure we saw in March is less than 7.0% observed in the corresponding month of last year. Among the Member States, the lowest unemployment rate was observed in March in the Czech Republic (1.9%), Germany (3.2%) and the Netherlands (3.3%). The highest unemployment rates were in Greece (18.5%), Spain (14.0%) and Italy (10.2%).

Eurozone GDP rises by 0.4% in the first quarter

The euro zone's seasonally adjusted GDP rose in the first quarter of 2019 by 0.4 percent from the previous quarter, according to preliminary estimates from Eurostat on Tuesday. For the entire EU, GDP rose 0.5%.

Annually, seasonally adjusted GDP rose by 1.2% in the euro zone in the first quarter, while the figure rose by 1.5% in the EU 28 compared with the same period of 2018. The second estimate will be published on May 15, and the final assessment is scheduled for 6 June.

EUR trades against major currencies
  •  The euro traded lower against the yen at 124.88 to hit 0.09%.
  • The euro rose to 1.1414 against the franc, trading in green with 0.08%.
  •  The euro was down against the pound at 0.2%, with the euro trading at 0.8637 against the pound
  • The euro rose to 1.1207 against the dollar at around 11:02 CET.

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