Euro Pulls Back as Economic Slowdown is Expected

Economist and analysts expect the eurozone economy to slow its rate of growth through the end of 2016, and that is weighing on the euro today. The 19-nation currency is struggling against some of its counterparts.

Even though the eurozone economy grew at a faster pace during the first quarter of 2016 than either the United States or the United Kingdom, things aren’t expected to last. A recent poll addressing the eurozone economy indicates that economists and analysts feel that the eurozone will see slowed growth for the remainder of the year.
On top of that, concerns about a Brexit from the European Union are impacting the economic outlook for the eurozone as well as for the United Kingdom. While a recession isn’t expected for the
While a recession isn’t expected for the eurozone, slower growth is a reality that many are preparing for, and the 19-nation currency is heading a little bit lower as a result of the perceived risks to the economy. Some of these other risks include the refugee crisis and a possible slowdown in China, as well as concerns about further problems with Greece.
At 13:44 GMT EUR/USD is lower, dropping to 1.1405 from the open at 1.1426. EUR/GBP is down to 0.7854 from the open at 0.7908. EUR/JPY is up to 124.69 from the open at 123.88.

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