ECB: forecasters cut 2013 GDP estimate to -0.4% from 0%

11.05.2013 [11:11]
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Baku, May 11 (AZERTAC). In its monthly report, the European Central Bank cut its 2013 GDP forecast for the Eurozone to -0.4 percent. The central bank also cut its inflation estimate to 1.7 percent in 2013. According to the ECB the risks for the Eurozone economy remain downside. On the other side of the ocean the Unemployment Claims in the United States dropped to 323K on an annual basis in March. Investors are now focused on the G7 Meetings and the speech of the Chairman of the United States Federal Reserve Ben Bernanke due later today. Support for the EURUSD is seen at 1.2990 and resistance is seen at 1.3072. The HotForex Traders Board shows that 63 percent of the traders are long on the EURUSD.

ECB: forecasters cut 2013 GDP estimate to -0.4% from 0%

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