February 8, 2012 11:07 AM GMT
The French Central Bank said it expects the economy to record zero growth rate in the first quarter of 2012 on expected slowdown in euro area economies. Separately, the bank released industrial sector activity indicator which lingered at 96 in January, while the services gauge fell to 93 from 94 the previous month.
EUR/USD's decline extended further as expected as reached as low as 1.2496. The break of 1.2625 confirmed resumption of whole fall from 1.4939. Initial bias remains on the downside this week.
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