Data Confirms Europe’s in a Double Dip Recession

Forex News and Events: Heading into today’s critical ECB meeting, economic data out of Europe confirms that the region is in the grip of a double dip recession. Euro-Zone Q3 GDP -0.1% q/q vs -0.1% exp, -0.1% prior read; -0.6% y/y vs -0.6% exp, and from -0.6% prior. This confirmation of contraction will put further pressures on the ECB to cut rates and focus the market’s attention on the forecast for 2013 growth. We suspect that Draghi will remain overly optimistic on the Eurozone recovery by

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