Euro area economy grows at an annual rate of 2.1% in Q3 as expected

• Euro area GDP grew by 2.1% (YoY) in Q3 as expected.
• EURUSD trades at multi-month highs near 1.0400 after the latest data.

The euro area economy expanded at an annual rate of 2.1% in the third quarter, Eurostat reported on Tuesday. This reading came in line with the flash estimate and the market expectation.

Other data revealed that the euro area trade deficit narrowed to €34.4 billion in September from €52.4 billion. Finally, Employment Change in the third quarter came in at +0.2% on a quarterly basis, compared to analysts' estimate of +0.3%.

Market reaction 

These figures don't seem to be having a significant impact on the Euro's (EUR) performance against its major rivals. As of writing, EURUSD was up 0.75% on the day at 1.0400.