Eurozone GDP growth in Q3 revised higher

Revised Eurozone GDP growth in Q3 on an annualized basis was:

Annualized GDP change: 2.3% vs. 2.1% forecast and 2.1% previously
Quarterly GDP change: 0.3% vs. 0.2% forecast and 0.2% previously
Quarterly employment rose 0.3% vs. 0.2% previously

• The European Central Bank said that consumers in the eurozone, will see inflation near 3% over the next three years. In contrast, it will be 5.4% over the next 12 months, according to the latest estimates.

The major currency pair EURUSD reacted mixedly to the data, although it strengthened against the dollar from the early morning hours, which we can associate with possible realizing traders profits:

EURUSD chart, M5 interval. Source: xStation5Source: Eurostat