10:02 AM · 7 June 2024

BREAKING: Eurozone final Q1 GDP in line with expectations

Q1 GDP Eurozone came in line with expectations YoY at 0.4% vs 0.4% in the first reading and 0.4% previously

Q1 Eurozone GDP was also flat at 0.3% MoM vs 0.3% in the first reading and 0.3% previously
Also Eurozone employment came in line with 0.3% previous reading
Eurozone Q1 Compensation per employee rose unexpectedly at 5.1% YoY vs 4.6% previously

In general data came in line with expectations, but higher wages make the reading quite hawkish. Despite to that, EURUSD didn't react very much and is still traded much below 1.09 resistance zone.

Source: xStation5

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