On August 4, the euro and the dollar were temporarily reported at 1.0615, down slightly, or 0.04%. The euro was unchanged at $ 1.0165 in late trade yesterday , after a survey showed a gloomy economic outlook as business activity in the euro zone as consumers cut back on spending amid a cost-of-living crisis .
On August 3, local time, data released by Eurostat showed that, seasonally adjusted, in June 2022, retail trade in the euro area decreased by 1.2% month-on-month, and the previous value increased by 0.4%; EU countries decreased by 1.3%, the previous The value increased by 0.2%. On a year-on-year basis, retail sales in the euro zone fell by 3.7% in June, while those in the European Union fell by 2.8%. The sharp drop in euro zone retail sales in June (-1.2% year-on-year) meant that retail sales contracted throughout the second quarter, Capital Economics assistant economist Michael Tran said in a note.
The euro fluctuated and consolidated yesterday, the daily line closed up slightly, and the exchange rate trading around 1.0170. In addition to short covering , which provided some support for the exchange rate , strong economic data from Germany during the period also provided some support for the exchange rate. However, concerns about the energy crisis in Europe and a higher dollar index limited the room for a rebound in the exchange rate.