The Euro is looking down again. Overview for 30.10.2018

The major currency pair is trading downwards; the statistics published by the Euro Area in the afternoon were disappointing.

EURUSD is under pressure again on Tuesday evening. The current quote for the instrument is 1.1352.

According to the statistics published in the afternoon, the Euro Area GDP slowed down in the third quarter and added only 0.2% q/q. Market expectations implied +0.4% q/q, the same as the previous quarter. On YoY, the indicator expanded only by 1.7% against the expected reading of +2.2%. However, this was the first report of the GDP; the revision will be published in two weeks, on November 14^th.

The Italian GDP didn’t make investors any happier as well. This quarter, the indicator remained unchanged, although it was expected to add 0.2% q/q. The French economy was quite the opposite ands increased by 0.4% q/q, the same as expected, after adding 0.2% q/q the quarter before.

The decline in European economies is not a good signal for the Euro. Earlier, it became known about the decline in the business confidence parameters (mostly in retail sales and industrial production), which is also a bad sign.