Friday, May 13, 2011

Euro Recovers as German & French GDP Surge

Euro Recovers as German & French GDP Surge - The euro rebounded versus the US dollar today after the reports showed that the growth of the German and French economies sharply accelerated in the first quarter.

France’s GDP rose 1.0 percent in the first quarter of 2011, compared to the forecast of 0.6 percent. Germany’s GDP surged 1.5 percent in Q1 of this year, while analysts counted on growth by 0.9 percent.

It’s good to see that Europe’s bigger economies performs better, but such strong growth just makes the problems of peripheral economies more obvious.

EUR/USD traded at 1.4292 today as of 9:00 GMT, recovering from the decline to 1.4184 from the opening rate of 1.4244.


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