European data released over the past few days has mainly missed analysts expectations, however we have seen the Euro remain fairly stable as the figures were still reasonably good.
Poor weather across Europe can be blamed as one of the main issues in March and I feel that because the snow was just so bad in places this slight miss has been overlooked by most investors and speculators.
We have very little out in terms of economic data today from the Eurozone but what may be the main market mover for Euro exchange rates today would more than likely be non-farm payroll data over inn the U.S which can impact all major currencies.
EUR/USD is the most traded currency pairing in the world so any larger news from the U.S can impact Euro exchange rates too, positive news from the States can weaken the Euro and negative news can strengthen it.
At the stage of writing this the Pound is the worst performing major currency of the week, although it hasn’t made major losses it still has dropped off a little, economic data for the U.K has not been great but again I would personally focus the main reasons for that on the weather we witnessed in the U.K in March.
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