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BREAKING: German GDP shrinks more than expected

9:06 AM 30 July 2020

German GDP report for Q2 2020 was released at 9:00 am BST. Report was expected to show a drop of 9% QoQ decline but instead point to a 10.1% QoQ contraction. Drop in year-over-over terms turned out to be 11.7% (exp. -11.5% YoY). The reading did not cause any big reaction on the financial markets with EURUSD remaining muted near 1.1760 and DE30 trading near 12,630 pts.

EURUSD barely moved on weaker than expected German GDP data. Source: xStation5

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