Eurozone economy revised its growth rate to be higher than initially released, EUR awaits ECB decision

EUR is waiting for ECB’s policy decision on Thursday. Since August 20th, EUR has advanced more than 2% against USD, primarily due to USD’s weakness. If ECB keeps the same dovish stance as the Fed, analysts are expecting some pressure over EUR’s uptrend. Until now, ECB has insisted that any surge in consumer prices is temporary, leaving much time for the stimulus. Yesterday, the Eurozone economic growth numbers have been revised to adjust for higher consumer and public spending. After the revision, GDP grew by 2.2% on a quarterly basis and 14.3% on a yearly basis. The previous figures were 2.0% and 13.6%. Moreover, the employment rate rose by 0.7% on a quarterly basis instead of the initially released 0.5%. How will ECB interpret these revised figures are somewhat critical to the direction of EUR.