Euro zone M3 money supply weaker than expected

Euro zone M3 money supply 3-month moving average September-November has come in at +0.6%, down from previous +1.6% for August-October period and below median forecast of +0.8%.

Annual growth has come in at -0.2%, weaker than the median forecast of +0.3%. Data will serve to increase fears of a possible credit crunch.

EUR/USD sits at 1.4347 in directionless trade.