Single Currency Boosted By GDP
The single currency reached a maximum of three maximum. Euro/dollar lifted 0.42% to trade at 1.1716. German Q3 Preliminary Gross Domestic Product rose to the 3-year maximum of 0.8%, final Consumer Price Index stayed at 0.0%. Eurozone Flash Gross Domestic Product is sticking at 0.6%. German ZEW Economic Sentiment marked 18.7, Eurozone indicator increased to 30.9. This year, German economy is developing at annualized rate of 2.8%. Business investment has broadly increased and unemployment has dropped.
Today, Mario Draghi and Janet Yellen will take part in an event, organized by the European Central Bank. As we know, next year European Central Bank will cut the asset purchase program from 60B to 30B euros. The program has been prolonged till September 2018. Some members, particularly Philip Lane (head of the Irish central bank) complain that the lowering should be executed in a faster pace. And some even suggest that the program should be ended. Today’s comments of the Bank’s President will be in the spotlight.