FX.co ★ Euro Slips Slightly as Investors Weigh Economic Data

The euro experienced a slight dip in the final trading session of May, maintaining a position close to $1.13 and remaining relatively unchanged compared to the previous month. Investors assessed a wave of economic data from Europe's major economies, along with the news of a temporary suspension on the block of former President Trump's trade tariffs by a US appeals court. In Germany, retail sales decreased by 1.1% in April, marking the first downturn in four months and falling short of market predictions for a 0.2% rise. Meanwhile, inflation pressures subsided in both Spain and France, strengthening expectations that the European Central Bank will reduce interest rates by a quarter-point at its meeting next week. In Spain, inflation declined to 1.9%, the lowest level since October and below the projected 2.1%. France experienced an even more pronounced deceleration, with inflation dropping to 0.7%, the lowest since February 2021 and below the anticipated 0.9%.