EUR/USD stayed flat. Eurozone retail sales dropped for the first time in five months.

EUR/USD was fluctuating near the yesterday close throughout the day. As of 1:00 PM EDT the currency pair was trading at 1.1499 (flat).

European shares fell today. This represents the fifth consecutive day of declines. The performance of major indices is presented below:

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  • FTSE 100 closed at 6,112.02, down 1.19%.
  • CAC 40 lost 1.09% finishing at 4,324.23.
  • Euro Stoxx 50 was trading at 2,938.75 as of 5:50 PM GMT, which represents a 1.19% decline from the previous close.

Eurozone retail sales fell in March, representing the first decline in five months. This shows that the Eurozone economic recovery remains limited and prone to be easily affected by setbacks. According to the European Union statistics agency’s report, the retail sales volumes were 0.5% lower in March than in February, however they increased by 2.1% from March 2015.

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Another report showed that the Eurozone services PMI index stood at 53.1 in April, same as the March reading.

“The April services and manufacturing PMI’s will likely reinforce belief that there will be a renewed slowdown in eurozone GDP growth in the second quarter, and it does seem improbable that the eurozone can sustain its surprising first quarter growth performance of 0.6pc quarter-on-quarter expansion” said Howard Archer from research firm HIS.

Oil prices sharply fell at the end of the European session. As of 1:08 PM EDT the WTI Crude was trading at 43.35 USD/bbl down 0.69% and Brent Crude at 44.31 USD/bbl, which is 1.47% lower than the previous close.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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