Euro Mired Near Multi-Week Lows

Source: Forexnews.com

The euro continues to struggle against the dollar, falling to its lowest level in 3 ½ weeks at 1.5541 amid weakness in the earnings of Deutsche Bank. Economic data from the Eurozone will be closely analyzed, including Germany’s April labor report, Eurozone March labor report, Eurozone sentiment surveys and flash inflation. Germany’s unemployment rate is seen holding steady at 7.8%, while the unemployment change is estimated at minus 30k versus minus 55k. The March Eurozone unemployment rate is expected to remain unchanged at 7.1%.