(RTTNews) - The euro eased against the currencies of US, UK and Switzerland during Thursday's early European session despite a gain in European stocks. The euro thus eased from a 10-day high against the pound and a 2-day high against the dollar.
Germany's DAX rose 0.1% in early deals, France's CAC 40 index climbed 0.6% and U.K.'s FTSE 100 index soared 0.6%.
Germany's Federal Statistical Office announced today that the producer price index or PPI rose 0.6% year-on-year in April, compared to the 1.5% fall in the previous month. Economists expected an increase of 0.4%.
On a monthly basis, the PPI rose 0.8% in April, faster than the 0.7% growth in the preceding month. Economists were looking for an increase of 0.6%.
The euro-pound pair that hit a 10-day high of 0.8654 at 3:30 am ET Thursday weakened thereafter. The pair, which was worth 0.8602 at yesterday's close, is now trading at 0.8627. On the downside, the euro may target around the 0.85 level.
A report from Office for National Statistics showed that that U.K. retail sales volume, including automotive fuel, rose 1.8% in April from the same period of previous year. Retail sales growth matched consensus forecast.
Month-on-month rise in retail sales was 0.3% in April, slightly bigger than the expected 0.2% increase.
Against the franc, the euro fell after hitting a high of 1.4309 at 2:55 am ET Thursday. As of now, the euro-franc pair is worth 1.4227, down from yesterday's close of 1.4290.
The euro weakened after hitting a 2-day high of 1.2438 against the dollar at 2:55 am ET Thursday. Currently, the euro is worth 1.2381 against the dollar, down 0.4% from yesterday's close of 1.2428.
The euro rose to 113.76 at 3:50 am ET against the Japanese currency, from a low of 112.15 hit at 2:25 am ET. Although, the euro eased thereafter, it is still trading above Asian session's low. As of now, the euro-yen pair is trading at 113.01, compared to previous day's close of 113.90. On the downside, the euro may target around the 112.15 level.
Looking ahead, the U.S. Labor Department is slated to release its customary jobless claims report for the week ended May 15 at 8:30 am ET.
Also, the U.S. leading indicators for April and the results of the Philadelphia Federal Reserve's manufacturing survey for May are scheduled for release in the New York morning.
