EURUSD at a weekly low after the US sales report

US retail sales report was much stronger than expected in March advancing by as much as 1.6% m/m while the European PMI reports for April confirmed that the European economy has been struggling. EURUSD has declined steeply as a result and is trading at a weekly low of 1.1240. Traders are still awaiting US PMIs (2:45pm BST).

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