Hello koala king and folks.
Good day to you.
Europe’s statistics agency mentioned that the euro zone in the last quarter of 2012 had been in a recession. GDP in the fourth quarter of last year shrank. The German economy, the largest euro zone economic power in the fourth quarter of 2012 was negative 0.6 percent while France the second largest economy recorded a figure of negative 0.3 percent. When a region or a country is going through economic recession, during two three-month consecutive periods there will be a decline in the GDP.
Greek National Statistics Institute said the jobless rate in the country in November last year has reached 27% of the active population. According to statistics from the Institute of Europe, Greece’s GDP in the last quarter of 2012 has experienced a six percent drop.
One economist said that regardless of the negative figures for the fourth quarter of last year, he said that he believes that for the first six months there will be signs of economic stability. While this does not mean that growth will be seen, negative numbers in the first quarter will be reduced and hopefully positive results for the second quarter will be recorded.
Mario Draghi president of the ECB in the G20 Group of Twenty summit in Moscow, emphasized the basic reform as a stimulus for the economy. He also mentioned that the discussions in recent weeks about the exchange rate is bad and useless and would fail in any event.
Technical perspective: I still believe that as long as EUR/USD is above the 1.3270 resistance, the main trend is bullish. If this resistance is broken, it may mean that the trend is changing. In the above picture, I have fully illustrated it.
Have a nice time.