Euro slides as retail sales ease in September

<p>The euro has depreciated in forex trading as retail sales declined in September.</p>

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.

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