020 7898 0500The euro gave up some of its gains it has made over the last few trading sessions yesterday, despite some relatively neutral data from the region. With the EUR/USD pairing advancing by almost 4% since the beginning of July, this could be the first sign that the single currency is losing some momentum.
In terms of economic data, we saw German unemployment beat expectations while the region’s first reading on growth for the second quarter posted 0.6% as expected.
The day ahead has the release of the Spanish unemployment numbers and the markets will be keen to see if Spain can continue its recent revival.
