Eurozone Q1 GDP remained unchanged from its estimate

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Source: Forexpros

Eurozone's economy stagnated during the first quarter of 2012. Eurostat reported that the gross domestic product of Eurozone was flat, remaining unchanged from its preliminary estimate and meeting expectations. Annualized GDP declined by 0.1%; consumption of households remained flat; expenditure on gross fixed capital decreased by 1.4%.

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Wed, 06 Jun 2012 16:50:25 GMT

The E.U. plans to establish a banking union

On 6 June the E.U. stated that it is planning to establish a banking union for Europe that would be responsible for managing bank-related crises and bailouts. It is expected that the plan encompasses an EU deposit for all banking institutions in the union, which would have a close concept to the Federal Deposit Insurance Corporation. Further, the banking union would have a mutual authority

Wed, 06 Jun 2012 16:28:23 GMT

German DAX index edges higher despite flat ECB rate and weaker production data

German DAX index recovered and traded higher on Wednesday as investors hoped for an interest rate cut by ECB. These expectations managed to offset negative effect from weaker German Industrial Production data for April. Index slightly retreated but remained strong after ECB decided to keep benchmark interest rate flat. Banks and car makers rebounded from previous losses. Commerzbank added 1.4%

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