Data from the Eurostat showed that Eurozone gross domestic product remained flat from the first quarter, when the economy expanded 0.2%. That was in line with the initial estimates.
Investments declined 0.3% from the first quarter, deducting 0.1 points from the GDP change. Falling inventories cut 0.2 points from the GDP change. Meanwhile, growth in private consumption and exports added 0.2 points each. Slower growth in public spending contributed nothing to GDP in the second quarter.
In the economic news, German industrial production grew the most since early 2012 in July, exceeding economists' expectations, data from Destatis showed. The seasonally adjusted industrial production increased 1.9% from June, when output grew a revised 0.4%. Economists had forecast production growth of 0.4% following the original 0.3% gain in June.
The euro edged up to 0.7939 against the pound from an early low of 0.7919. If the euro extends its uptrend, it is likely to find resistance around the 0.80 area.
The euro, which ended yesterday's deals at 136.18 against the yen, recovered to 136.32 around
Data from the
Against the US dollar, the euro edged up to 1.2956 from an early low of 1.2921. At yesterday's close, the euro was trading at 1.2942 against the greenback. Continuation of bullish trend may lead the euro to a resistance around the 1.32 mark.
Pulling away from an early high of 1.2065 against the Swiss franc, the euro retreated to 1.2056. On the downside, 1.203 is seen as next support level for the euro.
Data from the Federal Statistical Office showed that
Looking ahead, Canadian and US jobs data for August are due to be released in the
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