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Posted March 9th, 2015 by Charles Purdy

Euro under pressure which is set to continue

It was a difficult week for the euro as it remained under pressure after European Central Bank (ECB) President Mario Draghi confirmed last Thursday that the ECB will begin purchasing Eurozone government bonds as from today under the new quantitative easing program. The euro managed to fall even further against its major peers on Friday and hit new multi-year lows as the euro suffered from impressive non-farm payrolls data from the USA.

For the week ahead it is a quieter week for Eurozone data; on Thursday we have industrial production, expected to improve to 0.3%, in comparison to the previous month’s figure of 0%. Other than this release, the euro will have to sit tight and try and ride out the difficult climate that it is currently facing.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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