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EUR/USD equally unimpressed as the Eurozone avoids a technical recession in Q4

The Eurozone Q4 flash GDP estimate has just been released. Growth in the region in Q3 contracted by 0.1% and the markets were expecting another identical reading for Q4. That would imply that the Eurozone (as well as Germany) has now entered a technical recession. The actual data has revealed a flat reading of zero percent and as such it means the region has avoided such a fate, assuming that is not revised lower later. The EUR/USD has barely moved following this release and the other data released on a series of sentiment indexes does not appear to have had much impact either. The Q3 GDP data has remained unrevised at -0.1%. The DAX is not much changed either right now and so this is all rather dull to be honest. Of course there is bigger fish to fry this evening and then on Wednesday, with the Fed policy decision. The EUR/USD is currently trading at 1.0825
 

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