EUR/USD gains for third session, firm retail sales data from Eurozone boosts sentiments

Euro is gaining steadily this week as supportive equities and steady economic outlook are boosting the single currency. EUR/USD pair is currently trading at 1.1706, up 0.11% on the day and hitting one and half week high. The currency has gained for three sessions in a row. In a critical data yesterday, Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter. Retail sales grew 0.3% on a monthly basis in June, offsetting May's 0.3% decline, Eurostat said. On a yearly basis too, Eurozone retail sales growth accelerated to 3.1% from 1.9% in May. On NSE, EUR/INR futures are quoting at 102.55, up 0.53% on the day.

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