On Monday, markets saw the latest GDP data for Germany which revealed that the country’s gross domestic product shrank by 0.2% quarter-on-quarter in Q3 of 2022. This followed an upwardly revised 0.5% expansion in the previous period.
This would have been a key release for euro-watchers as it marked a contraction in Europe’s largest economy. According to the data, the largest contributors were a decline in household consumption, rising interest rates and stubbornly high inflation.
GBP/EUR is stronger this morning, with gains of around 0.11%. Investors will be watching closely for any fluctuations in the lead up to the latest eurozone GDP data, which will be released at 10am UK time.
