The Gross Domestic Product in the Euro-zone grew by only 0.3% in the third quarter of 2010. The final release of GDP wasn’t expected to show a change from the previous read of a 0.4% growth rate, so this is a disappointment. The final release usually confirms earlier releases.
In other European news, the unemployment rate remained at the stubbornly high level of 10.1%, exactly as expected.
EUR/USD is hovering above the critical 1.2970 level, which was a low point at the end of November. A fall below this line will send the pair to the lowest levels since September.
See more in the EUR/USD forecast.Get the 5 most predictable currency pairs