EUR review

Overall Eurozone GDP was slightly below par due to the largest economy Germany underperforming. Italy was another large economy which showed strong performance posting GDP growth of 0.3 percent well above the flat reading of zero Q4 2014. 

Greece will continue to underpin the Euro as it has about Euro 1.5 billion of loans to repay before the end of June and there were rumors that the Greek government has only about Euro 90 million in cash reserves currently. European factories seem to be slowly coming back to work as Industrial Production posted strong growth of 1.8 percent(Y-on-Y) for the second consecutive month in March. 

The number for February was revised higher to 1.9 percent from 1.6 percent reported earlier. Overall there is buoyancy in Eurozone economic data which has not been seen for a long time and the key reasons for this are a weak euro, low crude oil prices & ECB's monetary stimulus.