euro -vs- $us

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    Foreign Economy Review :: Agonist exclusive

    Eurozone economic statistics have been released today-

    Eurozone economic growth continued to stagnate compared to American and Japanese economies despite remarkably low deficits. Holland and Germany are heading to recession. While the top three performers Greece, The UK & Sweden, still show results inferior to American growth. SARS has been given some credit for Japan's persistent growth (at 2.1%) by encouraging Japanese consumers to stay and spend on the Japanese Isles while slowing down imports.

    The Euro stabilised at 1.1108USD after hitting a four month low of 1.1050 USD after the release of figures today which put French GDP growth at 0.3% for the second trimester of 03. There are hopes a lower Euro can help boost exports which were damaged by record highs. However the strong Euro did not hurt exports to Asia, which grew by 2.6%. A weaker Euro could help to boost exports in the coming trimester however it is expected to raise domestic Eurozone fuel prices. As well there were no signs that economies had been touched by the specter of boycotts.

    This report was compiled as a joint effort with Mathieu

    Le Monde
    Le Figaro

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