After contracting by 0.3% in previous quarter euro zone’s flash Gross Domestic Product reading showed no change in first three month of 2012. Economist forecasted that European economy will contract by at least 0.2%. The same situation appeared in yearly compare, where GDP showed 0.0% change, while analysts estimated 0.2% decrease. The couple EUR/USD was traded at 1.2847 after Eurostat announced its report today.
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