EUR
The Euro significantly strengthened on Friday after news emerged
the euro-zone economy grew 0.2 per cent in the third quarter, according to
official figures published by Eurostat, beating expectations of 0.1 per cent
growth. The French economy grew faster than economists forecast in the
third quarter as domestic demand helped it bounce back from a contraction in
the previous three months.  Gross domestic product rose 0.3 percent in the

EUR
The Euro significantly strengthened on Friday after news emerged
the euro-zone economy grew 0.2 per cent in the third quarter, according to
official figures published by Eurostat, beating expectations of 0.1 per cent
growth. The French economy grew faster than economists forecast in the
third quarter as domestic demand helped it bounce back from a contraction in
the previous three months.  Gross domestic product rose 0.3 percent in the
three months through September, the most in more than a year. 

The German economy has narrowly avoided recession, growing 0.1% in the third
quarter, the country’s statistics office said. With the economy
contracting 0.1% in the April-to-May quarter, another negative figure would
have meant Germany entering recession.

Germany’s 0.1% contraction in the second quarter was a revision from a previous
estimate of a 0.2% shrinkage in the April-to-May period.
The statistics office said German consumers had increased spending strongly
during the third quarter period, and that exports had also risen.The figures
will be seen as good news for the wider euro-zone, whose sluggish growth has
forced policy makers to cut interest rates and
introduce other stimulus measures.

German government forecast growth of 1% next year following a 1.2% expansion in
2014, sighting  “geopolitical risks” such as the Ukraine crisis
as a potential reason for the slight drop, but also criticised policies such as
plans to introduce a minimum wage next year. 

Further good news for the euro-zone, Greece exited recession and entered growth
for the first time since austerity measures were put in place. 

USD
Purchases increased 0.3 percent after a 0.3 percent drop in September, the
Commerce Department reported in Washington on Friday. The median forecast was
projected a 0.2 percent advance. Eleven of 13 major categories showed gains,
indicating broad-based growth.
The Commerce Department’s retail sales figures used to calculate gross domestic
product, climbed 0.5 percent in October after being little changed the prior
month. The September reading was revised up from a previously reported 0.2
percent decrease. 

The 1.9 percent increase in demand at non-store retailers, which include on
line merchants, was the biggest since March. Restaurants, sporting goods,
clothing and pharmacies were among the other categories showing a pick
up in demand. 

U.S. consumer sentiment also rose in November to a more than seven-year high as
falling unemployment and lower gasoline prices boosted views on both current
conditions and expectations, a survey released on Friday showed. The University
of Michigan’s preliminary reading on the overall index on consumer sentiment
for this month came in at 89.4, the highest reading since July 2007, well above
economists expectations. 

Key
Announcements:
14:00 EUR : ECB President Draghi Speaks 

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