The Eurozone and EU economies expanded in the third quarter of 2024, with GDP growth outpacing the previous quarter.
Seasonally adjusted GDP rose by 0.4% in Q3 2024 in the Eurozone and by 0.3% in the EU compared to the previous quarter, according to a preliminary flash estimate from Eurostat. In Q2 2024, GDP had increased by 0.2% in the Eurozone and by 0.3% in the EU.
These initial estimates are based on partial data and may be revised. Compared to the same quarter of the previous year, seasonally adjusted GDP increased by 0.9% in both the Eurozone and the EU in the third quarter of 2024, following year-on-year growth of 0.6% in the Eurozone and 0.8% in the EU in the prior quarter.
Source: Eurostat
The euro rose to 1.1660 on optimism over potential Ukraine-Russia peace talks, while the yen held steady as the Bank of Japan signaled room for further hikes. Gold slipped on easing geopolitical tensions, though trade concerns and Fed cut expectations capped losses.
Markets Await Key Inflation and Policy Data (11-15 August)U.S. 10-year Treasury yields rose for a fourth consecutive session to 4.27% on Friday, rebounding from a three-month low. The move followed weak U.S. data, newly announced gold tariffs, and President Trump’s nomination of Stephen Miran to the Fed, which fueled concerns about a politicized central bank. Waning demand at recent bond auctions and rising expectations for rate cuts also influenced markets. Investors now look ahead to next week’s CPI release for policy signals.
Detail Markets Eye Fed Cuts as Geopolitical and Trade Risks Persist (08.08.2025)The euro held steady near 1.1660 on Friday, supported by hopes of a Russia-Ukraine peace summit and weaker U.S. economic data that fueled Fed rate cut expectations.
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