The Euro edged higher against the Pound following the release of mixed data which widely met economist expectations.
According to the Federal Statistics agency based in Wiesbaden, retail sales fell by 1.4% in July, down from the 0.8% fall measured in June. Economists had been calling for a 0.6% increase. On a year by year basis however sales are up by 2.3%.
Earlier in the session the single currency was trading softer against its peers and was holding close to a two-week low against the US Dollar. Data out of Germany gave investors reason to be wary over the region’s largest economy after retail sales made an unexpected second monthly decline.
The Eurozone received support from data released elsewhere. The unemployment rate in Italy fell from 12.1% to 12% suggesting that the nation’s economy is slowly beginning to show signs of improvement.
The Eurozone’s unemployment rate stayed steady at 12.1% and consumer confidence stayed at the -15.6 measured in July. Eurostat estimates that 26.654 million men and women were unemployed in the EU, 19.231 million in the Eurozone. This was a decrease of 33,000 on June in the EU and 15,000 in the euro area. Compared with July 2012, unemployment rose by 995,000 in the EU and by 1.008m in the Euro area.
Current Euro (EUR) Exchange Rates
The Euro/ Pound Sterling Exchange Rate is currently in the region of: 0.8531
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3245
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4813
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.7024
The Pound Sterling /Euro Exchange Rate is currently in the region of: 1.1720
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6750
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.5873
(Correct as of 12:30 pm GMT)
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