Despite a generally positive set of data from the eurozone, the single currency lost to most major rivals yesterday, including by over 1% against the Australian dollar.
The data came thick and fast yesterday, starting with German retail sales (declining sharply last month), then Italy’s quarterly GDP (down 0.3%, way below expectations) and inflation (slightly down, to 6%), eurozone quarterly GDP (up by 0.3%) and inflation, falling to 5.3% across the 20 countries of the bloc.
We will shortly hear eurozone and German unemployment data and get a gauge of the impact of the ECB’s cooling of the economy.
EUR/USD past year
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