ECB's de Guindos: High-frequency data suggest Q2 GDP drop will be less than forecast

High-frequency data suggest that the GDP contraction in the second quarter of the year will be smaller than initially expected, European Central Bank's (ECB) Vice President Luis de Guindos said on Tuesday.

"News from the US on pandemic is not good," de Guindos added and noted that this situation is likely to have a negative impact on global trade.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was virtually unchanged on a daily basis at 1.1444.