Increase in Euro area's economic stimulus spending to weigh on Euro

In the Euro area, robust economic data releases like German Business Climate, increase in German Prelim GDP showed that companies have largely put the Greek debt crisis behind them, suggesting the bloc's economic recovery is on track. 

However, problems in the emerging market economies like slower growth in China, weak commodity prices and the prospect of higher US interest rates is causing a hindrance to the Eurozone's economic health. 

"This prompted the ECB to cut its previous growth forecasts for the euro-zone economies. To counter-attack this problem, the president of the European Central Bank has promised to intervene by increasing economic stimulus spending. This will keep the Euro currency pressurized", says Angel commodities.