France’s economy grew by 0.4% on a quarterly basis in the fourth quarter of 2016 and 1.2% on a year-on-year basis, according to a report published by the French statistical office. Thus, the French economy was able to catch up with economic growth for the fifth quarter.
In addition to growth data, leading-edge inflation figures for January were released. Accordingly, inflation was 0.1% on a monthly basis, 1.4% on an annual basis. In both cases, the figures are below expectations.
For France, markets are more focused on general elections in April rather than economic data. The results of the last survey showed Macron a favorite.
Following the French data, EURUSD is trading in the 1.0590 regions. There is an intention to continue this week’s recovery starting from 1.05 support last week, but Trump’s speech will decide what to do today. The nearest resistance at the moment is 1.0625 and the nearest support is 1.0520.