BRUSSELS (Alliance News) - The euro traded mixed against its major counterparts in European deals on Wednesday, after data showed that Eurozone retail sales declined more than expected in September on a notable decrease in non-food product sales.
Retail sales fell 1.3% in September from last month reversing a 0.9% rise in August, data from Eurostat showed. Sales were expected to fall moderately by 0.8%.
On a yearly basis, retail sales growth halved to 0.6% in September from 1.9% in August. The rate was much weaker than an expected 1.4% growth.
Final data from Markit Economics showed that the Eurozone private sector expanded slightly less than initially estimated in October.
The final Markit composite output index rose to 52.1 in October from 52 in September. The reading was slightly below the flash estimate of 52.2. The headline index has now remained in expansion territory for 16 successive months.
The services Purchasing Managers' Index fell to 52.3 from 52.4 in September. The index was estimated to remain unchanged at 52.4.
The euro declined to a 2-year low of 1.2032 against the franc at 12:45 am ET, but recovered shortly thereafter. The pair was quoted at 1.2041 at yesterday's close.
Switzerland's consumer prices remained flat in October from last year, according to data from the Federal Statistical Office .
Economists had forecast consumer prices to fall 0.1% as seen in September. The decline in September was the first fall since January.
The euro firmed to a 5-day high of 0.7863 against the pound, up from yesterday's closing value of 0.7839. The next possible resistance for the euro-pound pair lies around the 0.79 zone.
UK service sector growth slowed more than expected to a seventeen-month low in October, survey results from Markit Economics and the Chartered Institute of Purchasing and Supply showed.
The services purchasing managers' index fell to 56.2 in October from 58.7 in September, less than the 58.5 score expected by economists.
Reversing from an early high of 1.2566 against the greenback, the euro edged down to 1.2474. If the euro extends slide, 1.24 is seen as its next possible support level. At yesterday's close, the pair was worth 1.2545.
The euro pulled away from its previous session's more than 7-month high of 143.44 against the yen, easing back to 142.82. The pair was worth 142.48 when it closed Tuesday's trading.
Japan's service sector contracted for the fifth time since the sales tax was raised in April, survey data from Markit Economics showed.
The headline services Purchasing Managers' Index fell to 48.7 in October from 52.5 in September. The is was the fastest fall since April.
Looking ahead, US ADP private sector payrolls data and ISM non-manufacturing composite index for October are due in the New York session.
