The euro is in a weak position this morning as it reacts to poor economic data. Revised volume of retail data for April decreased marginally by 0.4% in the euro area and 0.3% in the EU28, compared to March 2019. A flurry of weaker economic data from Germany this morning may also have affected the single currency.
The euro rose yesterday afternoon on the back of the ECB’s rate decision. They outlined that no rate changes are anticipated until at least the end of the first half of 2020, however, Mario Draghi did say that uncertainty is still rife due to geopolitical pressures and trade war concerns. Draghi will finish his eight year term in October without raising interest rates.
