Research Team at BBH, notes that the Eurozone expanded by 0.3% in Q4 15, as expected for a 1.5% year-over-year pace. Key Quotes “If anything, this is on the high side of estimates of trend growth. Breakdowns are not available with the first release, but it does appear that growth was driven primarily domestically rather than exports. However, Q4 ended on a soft note as evidenced by the 1.0% fall in December's industrial output. While this is well below the 0.3% consensus, weak national reports, including Germany, France, and Italy, suggest the surprise was not as great as it may appear. The euro peaked yesterday near $1.1375 and is nearly a cent lower, which still leaves it up on the week by 1.25 cents. A break of $1.12 is needed to begin carving out a top.” For more information, read our latest forex news.