EURUSD 1.1773 USDJPY 112.16 USDCAD 1.2386 EURCZK 26.034 USDCZK 22.108 EURPLN 4.2869 USDPLN 3.6413
EURUSD 1.1773 USDJPY 112.16 USDCAD 1.2386 EURCZK 26.034 USDCZK 22.108 EURPLN 4.2869 USDPLN 3.6413

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The total Gross Domestic Product of the eurozone is second in the world after the economy of the United States

Rule of thumb

Apart from the economic indicators that relate to the EU or  euro zone in total, some of the key data that may have an impact on the financial markets include the economic reports from the countries that have a higher share in the total GDP, such as Germany, France and Spain.

 

Some important reports are provided specifically for a given country, as  is the case for the IFO Survey, that is provided only for Germany.

The  eurozone (or euro area) constitutes a monetary and economic union of a large fraction of European Union countries. 

 

eurozone, ecb, euro

 

The countries participating in the  eurozone have adopted the euro as their sole currency. The monetary policy of the euro area is governed by the European Central Bank, with the seat in Frankfurt/Men.

 

The most important sectors of the European Union economy are the financial sector, real estate sector, renting and other business activities. Together, they account for 28.1% of the EU-27 (as of 2007) GDP. Other areas such as, distribution, communications and transport services account for a little over 21%, while industry accounts  for a little less than the previous category with about 20.1% of the EU-27 economic output.

 

Public administration also has a very significant share of approximately 22.4% of the general EU-27 economy. One may also observe a level of specialisation in different countries. For example, finance is most concentrated in Luxembourg, France and the United Kingdom, accounting for over 30% of their total value added. On the other hand, industrial activities are particularly concentrated within central Europe in countries such as the Czech Republic, Slovakia, Germany, Romania and Slovenia.

 

International investors follow the economic indicators that relate to both the European Union and  euro zone. The economic events that relate to the  euro zone have a direct impact on the euro. The currencies of the countries form a part of the EU and are expected to join the  euro zone in the future, such as Czech Republic and Poland, who are correlated with the euro.

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