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Euro weakens further

Euro weakens further

There are 3 main reasons why we begin this short week with a weaker Euro;

1.Data suggests that the Eurozone could be heading for its third quarter of negative growth.

2.A change of government in France, one that is likely to be less Berlin friendly than its predecessor.

3.The Greek political parties who supported ongoing austerity measures lost their majority rule, in fact leaving the country without a government at all.

Elsewhere the rate of US job creation disappointed on Friday with the April Non-farm payrolls release. Employment rose by 115,000, considerably below markets expectations of a rise of 160,000. However this normally significant data release was well overshadowed by the Eurozones issues.

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