euros

Retail sales for the 17 Euro countries came in above expectations but now it will be relatively quiet as the market digests all ECB and EU actions.

The European Central Bank (ECB) President Jean-Claude Trichet on Thursday said that the bank might revise up interest rates in the near future to combat increasing inflationary pressures.

The European single currency has continued its downward slide with a 7.7 percent drop against the dollar in May, which marks its sixth consecutive monthly fall and the largest percentage fall since January 2009.

Spanish Parliament narrowly passed plans for a severe budget by just one vote on Thursday.

Last week, the euro dropped to its lowest rate since last May, reaching 1.36 points against the dollar.

Sweden’s FOREX Bank is making preparations for the nation’s possible transition to the euro.