Euro Surge, U.S. Slowdown: GDP and Inflation Data Signals Big Moves Ahead!

Today, the euro shows strength, rebounding from recent lows thanks to surprising economic data from the Eurozone’s major players. Starting with France and Spain, GDP figures exceed expectations, with French GDP for Q3 hitting 0.4% (up from a consensus of 0.3%), and Spain’s GDP jumping to 0.8%. Spanish inflation also rose to 1.8%, a promising sign of economic momentum. Italy's GDP underperformed, however, the German economy surprised on the upside, recording 0.2% growth, doubling projections.

Additionally, Eurozone GDP growth for Q3 reached 0.4%, while annual growth landed at 0.9%, boosting investor confidence and supporting the euro. However, the U.S. economy seems to be hitting a speed bump; quarterly growth slowed from the projected 3% to 2.8%. This contraction phase might be signaling a shift in market dynamics.

With U.S. Non-Farm Payrolls (NFP) coming tomorrow, I’m closely monitoring market shifts for potential volatility. A lower-than-expected NFP may lead to further moves favoring the euro against the dollar.

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