Euro looking rosier for euro buyers

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Euro Struggles

Despite the absence of major domestic economic data, the common currency weakened against the majors yesterday, tracking upbeat global macroeconomic reports. Additionally, the single currency continues to remain influenced by the dovish stance adopted by Mario Draghi and Jens Weidmann earlier this week.

Against this backdrop and with today’s German inflation report expected to show further easing in the nation’s consumer prices for March, the Euro is likely to remain under pressure during the rest of the session. Additionally, the Euro zone consumer and business sentiment reports and further developments in Ukraine will generate market interest today.

The Euro has continued to lose ground against the pound this morning following the release of downbeat French and Spanish economic data earlier today. While consumer spending in France rose at a slower than expected pace for February, consumer prices in Spain unexpectedly declined for March, providing further proof of an uneven economic recovery in the currency bloc. Looking forward, Euro investors will have their plates full in terms of domestic economic releases, with the Euro zone inflation report expected to hog most of the limelight.

Finally, it's looking rosier for euro buyers.

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Euro looking rosier for euro buyers

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