The euro strengthened against other major currencies in the European session on Thursday, as market sentiment improved following the announcement of a truce in Lebanon, despite the release of weak Eurozone retail sales report. Israel and Lebanon agreed to implement a ceasefire. Lower oil prices and comments from U.S. President Donald Trump that U.S.-Iran talks could produce a positive outcome by this weekend contributed as well to the positive mood in the market. Meanwhile, regional gains remained capped by fresh jitters over private credit markets, tariff worries and concerns about inflation and interest rates.
Data from Eurostat showed that Eurozone retail sales declined more than expected in April reflecting decreases in non-food and auto fuel sales. Retail sales fell 0.4 percent on a monthly basis in April, in contrast to the 0.8 percent rise in March. Sales were expected to drop 0.3 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.