The euro was slightly stronger against the pound yesterday, as data from Spain revealed the first fall in unemployment since February.
The number of people registered as unemployed in Spain fell by 89.8 thousand from a month earlier to 3.77 million in July 2020, after significant rises in March and April. It was the biggest decline in the number of unemployed people for a July month since 1997.
A series of PMI data was released this morning. Services and Composite PMI for Germany came in at 55.6 and 55.3, showing that both the Service sector, and the Service and Manufacturing sectors combined have grown in July. For the whole of the euro area, Services and Composite readings came in at 54.7 and 54.9, again showing growth in July.
Later today, retail sales for the euro area will be released for June and are expected to show a small growth.
