ICM Brokers | Aug 15, 2013 05:56AM ET
The euro traded largely flat against the dollar on Wednesday even after data revealed the euro zone economy broke free from its recession in the second quarter. The euro enjoyed some support on data showing that the euro zone economy began expanding anew in the second quarter, breaking free from an 18-month recession. The euro zone's gross domestic product expanded by 0.3% in the second quarter, outpacing market calls for quarter-on-quarter growth of 0.2%. France’s economy grew 0.5%, while Germany’s economy expanded by 0.7%. Meanwhile in the U.S., the Department of Labor reported that the U.S. producer price index came in flat last month, missing expectations for a 0.3% increase after a 0.8% increase in June. The core producer price index eased up 0.1% in July, missing forecasts for a 0.2% increase.
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