Germany’s economic growth in the final three months of 2019 stagnated. The data, provided by statistics agency Destatis showed that GDP was flat on the quarter. This comes after a 0.2% increase in the previous quarter. The revised estimates were also unchanged from the preliminary estimates released a few weeks ago.
Is the EUR/USD Reversing the Trend?
The common currency is once again on the front foot picking up some bullish momentum. The gains come following prices bottoming out near the 1.0800 handle. After establishing support at 1.0840, the current gains will see EURUSD testing 1.0897. Further gains will depend on how price reacts to this resistance level.