FX.co ★ Euro Steadies Near $1.13 as Traders Digest Fresh Data

The euro moderated its earlier losses and was set to close the month of May relatively stable around the $1.13 level. This stability comes as investors processed a series of economic data releases from Europe’s major economies and responded to developments that a U.S. appeals court temporarily halted the suspension of trade tariffs imposed by former President Trump. In Germany, retail sales saw a decline of 1.1% in April, marking the first downturn in four months and significantly missing the market's anticipated increase of 0.2%. Concurrently, inflation figures revealed that the German Consumer Price Index (CPI) remained unchanged at 2.1% in May, contrary to predictions of a minor decrease. In other parts of the eurozone, inflationary trends continued to moderate in Italy, Spain, and France, bolstering market expectations that the European Central Bank will reduce interest rates by 25 basis points at its upcoming policy meeting next week.