The euro has strengthened this morning as market sentiment pushes the dollar lower.
Retail sales in Spain saw a surprise increase both monthly and annually. April’s increase was the biggest rise in five months and was largely driven by sales on non-food products, which were up by 0.2% annually.
European Central Bank Chief Economist, Philip Lane, is due to speak at lunchtime. After ECB President Christine Lagarde solidified expectations of an interest rate hike in July, markets will be interested to hear if Lane provides any more details on this.
