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The latest euro area GDP figures are likely to add pressure on the European Central Bank to further ease its monetary policy when it meets in December, says Saxo Bank's Mads Koefoed. He sets out his trading strategy for EURUSD ahead of that meeting as well as the FOMC meeting, also in December, when the US Fed is expected to hike rates.

The most recent flash estimate from the EU's statistics agency, Eurostat, shows that euro area GDP grew by 0.3% quarter on quarter, a little weaker than the 0.4% expected. Koefoed outlines what the latest data says about the state of the euro economy and why the ECB itself is fueling expectations of further stimulus to boost growth.