• Analytics
  • News and Tools
  • Market News
  • European session review: EUR mixed after record decline in Eurozone's GDP and surprise uptick in bloc's CPI inflation
European session review: EUR mixed after record decline in Eurozone's GDP and surprise uptick in bloc's CPI inflation
31.07.2020, 12:18

European session review: EUR mixed after record decline in Eurozone's GDP and surprise uptick in bloc's CPI inflation

TimeCountryEventPeriodPrevious valueForecastActual
06:00GermanyRetail sales, real unadjusted, y/yJune3.8%3%5.9%
06:00United KingdomNationwide house price index July-1.6%-0.1%1.7%
06:00United KingdomNationwide house price index, y/yJuly-0.1%-0.3%1.5%
06:00GermanyRetail sales, real adjusted June12.7%-3.3%-1.6%
06:30SwitzerlandRetail Sales (MoM)June30.7% 30.5%
06:30SwitzerlandRetail Sales Y/YJune6.2% 1.1%
06:45FranceCPI, y/yJuly0.2%0.3%0.8%
06:45FranceCPI, m/mJuly0.1%-0.1%0.4%
06:45FranceConsumer spending June37.4%3.2%9%
09:00EurozoneHarmonized CPI, Y/YJuly0.3%0.2%0.4%
09:00EurozoneHarmonized CPI ex EFAT, Y/YJuly0.8%0.8%1.2%
09:00EurozoneGDP (YoY)Quarter II-3.1%-14.5%-15%
09:00EurozoneGDP (QoQ)Quarter II-3.6%-12%-12.1%

EUR traded mixed against its major rivals in the European session on Friday after official data revealed that the Eurozone's economy contracted by the fastest rate on record in the second quarter and the bloc’s annual inflation unexpectedly edged up in July.

EUR fell against GBP, USD and CAD, rose against JPY and NZD, and was little changed against CHF and AUD.

Eurostat reported on Friday its flash estimate showed that the Eurozone's gross domestic product (GDP) shrank by 12.1 percent q/q in the second quarter of 2020, following a 3.6 percent q/q decline in the first quarter. That was the biggest contraction on record, as lockdowns imposed to contain the spread of the coronavirus pandemic hit activity and global demand. Economists had forecast a 12 percent q/q fall. All major economies in the region posted record declines in GDP in the second quarter. In y/y terms, the Eurozone's economy contracted by a record 15.0 percent compared to economists' expectations of a 14.5 percent decline.

A separate report from Eurostat revealed that the Eurozone's annual inflation edged up unexpectedly to 0.4 percent in July from 0.3 percent in June. Economists had forecast the rate to decline to 0.2 percent. Meanwhile, the annual core inflation, which excludes volatile prices of energy, food, alcohol and tobacco, and at which the ECB looks in its monetary policy decisions, accelerated to 1.2 percent this month from 0.8 percent in the prior month.

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location