Data from Eurostat showed that Eurozone inflation slowed in July to the lowest in four-and-a-half years, largely due to a fall in energy prices. Inflation slowed to 0.4% in July from 0.5% in June. It was expected to remain unchanged at 0.5%.
Separate data showed that the Eurozone jobless rate fell unexpectedly in June. The unemployment rate dropped marginally to 11.5% from 11.6% in May. The rate was forecast to remain unchanged at 11.6%.
In the economic news, the data from
The euro rose to more than a 2-week high of 0.7941 against the pound, from an early low of 0.7913. The euro may test resistance near the 0.80 area.
Data from mortgage lender Nationwide showed that
Against the US dollar, the euro fell to 1.3382, from an early high of 1.3399. Continuation of bearish trend may lead the euro to a support around the 1.333 mark
Pulling away from an early high of 137.83 against the yen, the euro retreated to 137.60. If the euro extends its downtrend, it may find support around the 136.33 region.
The euro retreated to 1.2162 against the Swiss franc, from an early high of 1.2175. The euro may test support near the 1.213 zone.
Looking ahead, Canada GDP for May, US weekly jobless claims for the week ended
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