French GDP disappoints With 0% In Q2

The French economy did not grow in Q2 2016. The flat read of 0% is below expectations for +0.2%.

EUR/USD is ticking a bit lower.

France, the eurozone’s third-largest economy, was expected to report a growth rate of 0.2% q/q in Q2. The preliminary figure had low expectations in comparison to Q1 which saw 0.6% growth.

EUR/USD traded around 1.1080, well within the range. Support awaits at 1.0960 and resistance is at 1.1190.

Spain, the continent’s fourth-largest economy, releases its data later on. And then we will also get the all-European number. Note that this does not include Germany, the largest economy, and therefore it is prone to a significant revision later on.

Here is how it looks on the chart. The reaction is limited. The big jump comes from the Fed’s decision earlier in the week.

More: the focus returns to the US with the initial GDP report for Q2.

(Click on image to enlarge)