Eurozone retail sales continue to drop
US labour market data forced investors to reevaluate their expectations of how high the Federal Reserve could raise its key interest rate and how long it will keep it elevated. The unemployment rate dropped to 3.4%, the lowest value in 54 years. That gives the central bank more freedom to manoeuvre in terms of further raising interest rates. The dollar continues to strengthen, while the euro is also being pressured by a bigger-than-expected drop in retail sales.
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