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The euro currency was seen posting strong losses over the week amid a strong U.S. dollar and domestic concerns and weak patch of economic data.

The euro currency was seen falling to lows of 1.1800 last week as inflation and GDP data disappointed.

The first quarter GDP growth in the Eurozone was subdued at 0.4% while inflation managed to steady around 1.2%.

But core inflation rate eased to 0.7%. Domestic concerns on the uncertainty surrounding Italian government also added to the weakness in the currency pair.

UK real wages increase as unemployment rate steady at 43 year low

After many months of wages lagging behind inflation, the labor market report from the United Kingdom released last week showed that real wages were finally starting to grow.

The data comes as the UK’s unemployment rate was seen to be steady at 4.2% marking a 43-year low, data from the UK’s Office for National Statistics showed last week.

While the unemployment rate was seen to have remained steady at 4.2% in the first quarter, on a yearly basis, the unemployment rate was recorded at 4.6%. This was the lowest levels since 1975.

The number of unemployment fell by 46,000 to 1.42 million in the first three months of the year ending March 2018.

This comes amid the employment rate which pushed higher to 75.6% and was the highest since record keeping started in 1971.

The biggest surprise from the jobs data was of course the wage growth report.

Data showed that average earnings excluding bonuses grew at a pace of 2.9% in the three months ending March 2018. This also marked a new record in wage growth since 2015.

The increase in the wages excluding bonuses finally managed to surpass inflation which was recorded at 2.7% as of March.

The wage data suggested that real wages grew at a pace of 0.3% in the three months of the first quarter.

However, wages including bonuses increased at a slower pace of just 2.6%. Still, with inflation slowing and wages starting to rise, the news was regarded as a positive.

German GDP growth slows in the first quarter

Economic data released by the German statistics agency, Destatis showed last week that the first quarter GDP growth had slowed in the Eurozone’s largest economy.

Data showed that Germany’s gross domestic product or GDP advanced just 0.3% in the first three months of the year.

This was nearly half the pace of growth that was registered in the final three months of 2017.

The data came amid weaker imports and exports.

However, economists’ noted that the slowdown is only temporary and expect growth to pick up in the coming quarters.

The Eurozone’s second GDP estimate was also released which showed that the Eurozone’s economic activity advanced 0.4% as initially estimated in the preliminary GDP release few weeks ago.

The slowdown in the economy comes after Germany’s GDP advanced 2.7% in the final three months of last year.

Global trade uncertainty and a potential dispute with the United States were seen as some of the reasons.

In a separate report, the ZEW economic sentiment for Germany showed that the index fell to a five and a half year low, unchanged from the previous month’s reading.

The German economic sentiment index held steady at -8.2 in May, marking the lowest level since November 2012.

U.S. retail sales rises as estimated

The monthly retail sales report from the United States showed that sales increased as estimated in the month of April.

Data released by the commerce department on Tuesday last week showed that retail sales increased 0.3% in April after posting strong gains to a revised 0.8% in the month of March.

This was in line with the economists’ expectations while March’s data revision was initially seen at 0.6% Despite retail sales rising in April, it was slower compared to the pace of growth seen in the previous month.

The slowdown in the retail sales sector came amid lower sales for motor vehicle parts which rose just 0.1% during the month.

This was in contrast to the 2.1% increase registered in March.

Retail sales excluding autos were seen rising 0.5% compared to the 0.2% increase registered in the previous month.

The gains came on increase from clothing and accessories, furniture and home furnishings and gas states which managed to offset the declines in health and personal care and food services.

The core retail sales report which excludes automobiles, gasoline, building materials and food services was seen rising 0.4% in April following a revised print of 0.5% in March.

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