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EMU: Annual GDP contraction accelerates slightly in Q1, as expected

FXstreet.com (Barcelona) - On an annual basis EMU GDP decreased 1% in Q1 2013, slightly down from the 0.9% fall registered the previous quarter, according to data released today by Eurostat. This result is almost in line with market consensus of -0.9%.

Quarter-over-quarter GDP dropped 0.2% in Q1, following a 0.6% decline in Q4 and somewhat below expectations of a 0.1% decrease.

Forex: USD/CHF held at 0.9700 on downtrodden Swiss ZEW

The USD/CHF has remained sideways at the 0.9700 level, a key upside mark that has stubbornly halted a prolonged advance for the pair Wednesday. The plot thickened during European trading as weak economic data trickled out of the EMU and Switzerland, though this has effectively failed to break the pair out of a recent consolidation.
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Forex Flash: EUR subdued - Commerzbank

EUR/USD remains subdued, holding sideways at the base of the cloud and the Fibonacci support at 1.2916/30.
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