Sun. Aug 9th, 2020

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Italy’s Q2 expected introductory GDP- 12.4% vs 15.5% q/q

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In Q2, the Italian economy diminished by 12.4% matchlessly. The it is comparatively less ghastly than it was expected to be.

Istat noted that “all segments of the economy suffered” without providing much other details.

In the euro area, Italy is one of the worst hit countries by coronavirus. Currently, the number of active cases has reduced to 12,230 from 247,158. Italy, presently, ranks 15th. The condition in the country is getting better day by day.

Nonetheless, the market focus remains on the pace of the recovery so the data here isn’t going to shift the dial ahead of the weekend.
EUR/USD is still firmer at 1.1880 but off earlier highs of around 1.1900 to start the session.

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