Global macro overview for 14/11/2017
November 14, 2017 3:24 pmVideo
Latest News
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
- Video market update for April 18, 2024 April 18, 2024
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
The third quarter Preliminary German GDP data has beat the market expectations by 0.2% on a quarterly basis (0.8% vs. 0.6%) and by 0.3% on a yearly basis ( 2.3% vs. 2.0%). The detailed growth components will only be released at the end of the month but based on monthly data, the economy continues to advance. Growth was driven by three main sectors: public consumption, investment and net exports. Only the construction sector figures were worse than expected. Even if the German economy would stagnate in the final quarter of the year, GDP growth for the entire year would still come in at 2.4%; the highest reading since 2011.
Germany’s economic success story goes on and on and on. Since the second quarter of 2009, the German economy has grown at a quarterly average of 0.5%. Out of the last 34 quarters, only three quarters recorded negative GDP growth. The German economy is currently showing its best performance over such a long period since the mid-1990s. And it does not look that anything is going to stop it anytime soon, which will eventually be another fundamental reason to strengthen the Euro in the mid-term across the board.
Let’s now take a look at EUR/JPY technical picture at the H4 time frame. The market remains closed in a narrow consolidation zone between the levels of 131.39 – 132.24. Currently, the price is testing the technical resistance at the level of 132.24 and in a case of a breakout higher, the next technical resistance is seen at the level of 134.40.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: