German GDP grew by 0.7% in Q1
Today was published the final report on the growth of Germany's GDP in the 1st quarter of this year, which was the highest over the past two years and showed the expansion of the economy by 0.7%, which coincided with forecasts of analysts. It is worth noting that in the last quarter of last year, the German economy grew by only 0.3%. The main driver for economic growth was the domestic demand. Exports rose by 1.0% and imports by 1.4%. Despite the positive data from Germany, we expect a drop in euro prices with closest targets at 1.1050 and 1.0985 in the near future, due to the growth of the US dollar because of tightening of the Fed's monetary policy in the United States.
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