The euro has slipped versus all its major trading partners in forex trading this afternoon (September 27th), on news the single currency region's retail sales continued to slide this month.
According to the Markit Eurozone Retail Purchasing Managers' Index (PMI), revenues fell for the 11th month in a row, albeit at a weaker pace.
The PMI reading was 47.1 for September, which is up from 44.4 in August, however any figures lower than 50 indicate contraction, while those above mean expansion – therefore the sector is still in recession.
Data from the big three eurozone economies of Germany, France and Italy are compiled to make this report.
Germany's retail PMU was at a five-month low of 49.2, while France's climbed to a three-month zenith of 47.9 and Italy saw its best reading in a year at 42.9.
At 16:30 BST, the euro was marginally lower versus the dollar to €1 for every $1.286, while it depreciated by 0.3 per cent to €1 buying £0.793 against the pound sterling.
Find out about the euro and forex trading at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.