Euro Recovers Against the US Dollar

The euro rose against the US dollar this morning GMT currently buying $1.086, and has hovered around this mark so far today.

Yesterday afternoon, the euro fell down to just beneath the $1.083, as there was positive data on the United States economy.

Payroll processor ADP’s latest employment survey, found that there was an additional 214,000 jobs, that were created in the labour market in February.

In their daily brief, LMAX Exchange wrote that the euro remains the most underperforming currency in the forex market.

As the euro continues to be weighed down by a combination of factors, including the European Central Bank policy meeting scheduled for next week, where additional stimulus measures are expected.

The UK pound has experienced a rise against the greenback, which began mid morning yesterday, and has continued into today.

Currently the pound is buying $1.40, a slight fall from the morning peak of $1.41,just past 6AM GMT.

The febrile atmosphere that surrounds the UK’s in or out referendum on membership of the European Union (EU) has continued, after the UK foreign minister Phillip Hammond published a report, which concluded that a UK exit would leave the country ’weaker, less safe and worse off’’.

All eyes today will be on the British of Chambers of Commerce conference, where the ‘ Brexit’ is certain to be a toxic issue.

Volume of Retail Trade up by 0.4% in Euro Area 

Retail trade has boosted the euro area, as productivity was increased by 0.4% in January 2016, compared to the previous month.

For the whole of the EU the news was more encouraging, as the increase in trade climbed at a more accelerated pace of 0.8%.

In comparison to December, retail growth month on month eased by 0.2%, while in the EU the retail industry grew at a by a significant 0.5%.

Year on year, in January 2016 compared with January 2015, the calendar adjusted retail sales index increased by 2.0% in the euro area and by 2.8% in the EU.

The increase in retail productivity in the euro area, can be attributed to a 0.7% rise 0.7% for non-food products, and of 0.5% for food, drinks and tobacco.

And the comparatively slender increase of  0.1% for automotive fuel.

In the EU there was a 1.1% surge for  non-food products, plus a 0.7% rise for “food, drinks and tobacco” and of 0.5% for automotive fuel.

Among member states, the highest increases in total retail trade were registered in Portugal 5.9%, Poland 3.4%, followed by Slovenia 3.0%.

While the largest decreases, were observed in Luxembourg -1.2%, with Austria and Slovakia both falling by 1.1%. 

France Unemployment Rate down by 0.1% 

The National Institute of Statistics and Economic Studies (INSEE), have revealed that unemployment in France, was reduced by 0.1% in the final quarter of last year.

In metropolitan France, the number of the unemployed declined by 47,000 down to 2.9 million, quarter on quarter.

Over the course of the whole of last year, the reduction in unemployment was also found to be 0.1%.

In between the ages of 15-64, employment stood at 64.3% in the third quarter of last year, stable when compared to the previous quarter.