Euro Struggles to Take $1.14 Line, Eurozone CPI Next
The euro continues to show slight losses versus US dollar today. The EUR/USD pair is trading at 1.1378, having lost another 0.13% on the day. Markets expect the release of the Eurozone inflation report and unemployment rate data.
The preliminary reading of the Eurozone inflation is expected to see the headline Consumer Price Index (CPI) decelerate to 2.0% over the year in November while core inflation, stripping the consumer basket off food and energy prices, is expected to remain unchanged at 1.1% over the year. The Eurozone unemployment rate is forecast to dip to 8.0%.
Retail sales in Germany rose sharply in October, increasing at the fastest pace in almost a year and a half. The Federal Statistical Office reported, that retail sales rose at an annualized rate of 5% in October after a decline of -2.8% in September (revised from -2.6%). Economists had expected a growth rate of 2.7%. On a monthly basis, retail sales fell by -0.3% in October, as in September, (revised from + 1%). Economists had expected a growth rate of 0.3%.