The flash GDP estimates for France, covering the third quarter were slightly better. The GDP estimates saw a 0.3% increase on the quarter ending September 2019. This was above the forecasts of a. 0.2% increase.
Germany’s preliminary inflation data also saw a modest 0.1% increase on the month beating estimates of no change. Today, the flash GDP and CPI estimates for the eurozone will be coming out.
Can the EUR/USD Continue its Gains?
The euro is holding on to the gains after bouncing off the support region of 1.1075. Price action will need to break past the initial highs of 1.1150 to confirm further upside.
This will see the EURUSD testing the previous highs of 1.1177. Still, the EURUSD could remain caught within the range. Unless we see a breakout above 1.1177, the momentum could slow.
