The Euro is little moved against the Pound in another day of slow trading due to the end of year holiday season.
The single currency firmed slightly following the release of data from Spain which showed that retail sales in the country jumped by 1.9% on a year-by-year basis. In December, sales jumped by 2%, smashing forecasts for a figure of 0.39%. The unexpected rise eased concerns over Spain’s economy and offered hope that Europe’s fourth largest economy was finally beginning to turn a corner.
Following the release of the data, the euro was modestly higher against the Pound.
The currency then softened after a business confidence report out of Italy came in weaker than expected. Sentiment among Italian manufacturers improved at a slower rate than expected in December. The figure came in at 98.2, below the expected figure of 98.4. Despite that the figure is the highest recorded since August 2011 and marked an eight consecutive month of improvements.
Istat’s economic sentiment indicator, a composite business confidence index spanning all sectors, improved slightly, to 83.6 in December from a downwardly revised 83.2 in November.
Sentiment improved most in the construction sector, although remaining at low levels, while remaining stable among retail firms, according to Istat.
The Pound found support early in the session from a report which showed that UK house prices increased for an 11th straight month in December. Against the US Dollar, Sterling is at a two year high and is trading just below the 1.20 region against the Euro.
Euro (EUR) Exchange Rates
As of 11:25 am GMT
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3773
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8352
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5508
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6850
The Euro/ Canadian Dollar Exchange Rate is currently in the region of: 1.4742
The Euro/ Japanese Yen Rate Exchange Rate is currently in the region of: 144.7716
The Euro/Swiss Franc Exchange Rate is currently in the region of: 1.2263
The Pound Sterling/ Euro Exchange Rate is currently in the region of: 1.1968
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7262
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6448
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.5934
The Canadian Dollar/Euro Exchange Rate is currently in the region of: 0.6783
Swiss Franc/Euro Exchange Rate is currently in the region of: 0.8153
