In the Euro region as a whole, economic output fell 0.2% in the first quarter of 2013. In result of this, the Eurozone has found itself in it’s longest recession since the existence of the Euro.
In the first quarter of 2013, Germany’s Gross Domestic Product (GDP) rose 0.1%. In the last quarter of 2012 according to the most recent calculations, Germany’s GDP dropped 0.7%.
The EURUSD did hit new lows today, lows unseen since April. It appeared to bounce of the 1.285 resistance level. We’ll see if it breaks it this week. If it continues south, we could be looking at November lows in the 1.26’s and 1.27’s.
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