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FXstreet.com (London) - EUR/USD continues to hold overnight bearish momentum as the dollar pegs back its non-farm payroll losses.

German data showed low but stable German growth

Data released today by federal statistics office Destatis showed Germany's price-adjusted GDP expanded 0.4 percent in 2013 slowing from the 0.7 percent rise in 2012.

Destatis president Roderich Egeler cited the effects of the broad slowdown in the Eurozone, saying it had “put the brakes on the German economy”.

A release of the first estimate of Germany’s 2013 fiscal balance showing that German Household consumption increased 0.9 percent, while government consumption rose 1.1 percent.

German export growth slowed to 0.6 percent from 3.2 percent in 2012.

While the German economy remains in below-growth trend territory, today’s data showed that it is still the best placed in the Eurozone.

EUR/USD remains in bearish trend

EUR/USD is currently trading at USD1.3616, pushed lower on bearish momentum from a recovering USD. The pair is down 0.5 percent on the session ahead of Eurozone trade balance data at 10:00 GMT.
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