Eurozone Q1 revised GDP -3.6% vs -3.8% q/q expected

Eurostat - June 09

• Prior -3.8%
• GDP -3.1% vs -3.2% y/y expected
• Employment -0.2% vs 0.3% q/q expected -0.2% prior
• Employment 0.4% vs 0.3% y/y expected 0.3 % prior

These are the revised numbers so not a lot was being expected from the print. Q2 is going to be in key focus. These readings show a better then expected revision for q/q GDP, so that plays into the hopes that the impact on economies were not as bad as feared. EURUSD up a few ticks on the release at 1.1261