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Euro Slides as Weak Q4 Data Take Shape


Friday, 31 January 2020 15:52 WIB

Euro


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The euro fell in early European trading Friday, weighed by signs of weakness in the region’s two largest economies.

At 03:10 ET (0810 GMT), EUR/USD traded at $1.1027, down 0.1%, while EUR/GBP fell 0.2% to 0.8398.

First up, German retail sales slumped 3.3% in December, a much weaker number than expected, suggesting the country’s shoppers reined in their consumption in the final month of last year.

This was much weaker than expected, as economists on average had forecast growth of 0.2% in the quarter.

France has been hit by a wave of strikes amid protests against Macron's controversial proposed pension reforms.

Sterling meanwhile ticked up, after consumer confidence hit a 16-month high in January, on the day that the U.K. formally leaves the EU. GBP/USD was at a three-week high of $1.3140.

Elsewhere, the US Dollar Index Futures, which tracks the greenback against a basket of other currencies, pushed up 0.1% to 97.73.

Source: Investing.com


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