FX round-up: Euro propelled higher by weak US income data

LONDON (ShareCast) - A mixed batch of economic data Stateside propelled the single currency higher. The latest US personal and income spending figures showed the latter was flat versus the prior month (consensus: 0.2%). Spending on the other hand was 0.4% higher over the month (consensus: 0.6%).

Euro/dollar ended the session higher by 0.90% at 1.1248.

On a more favourable note, initial weekly unemployment claims dropped by 34,000 to 262,000 over the seven days ending on 25 April, while continuing claims - which reference the previous week - hit their lowest since April 2000.

Eurozone consumer prices were flat year over year in April, as forecast by economists, after dipping by 0.1% in the prior month.

However, the latest spate of German a figures were decidedly weak. According to the Federal Office of Statistics German unemployment slipped by 8,000 in April, after a 14,000 drop in the month before (consensus: -15,000). Retail sales in the euro area's largest economy were also weaker than forecast, sliding 2.3% month-on-month (consensus: 0.5%).

Dollar/yen edged higher by 0.33% to 119.42.

Cable finished 0.47% lower at 1.5353.