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German preliminary Q1 Gross Domestic Product (GDP) rises at a steady pace of 0.3%, beats the estimates of 0.2%, according to the Federal Statistics Office of Germany. On an annualized basis, the German GDP growth arrives at 0.3%, as expected, slower than the previous reading of 0.4%.
The German Unemployment Rate arrived higher at 6.4% in March vs. estimates and the previous reading of 6.3%.
Market reaction
There seems to be no immediate response by the Euro (EUR) due to the German data. However, there is a sudden jump in EUR/USD to near 1.1700 due to weakness in the US Dollar (USD).
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