Session Recap: Euro weakens after data disappointment

FXstreet.com (Córdoba) - The shared currency fell on Tuesday after data showed inflation in the eurozone dropped to a 3-year low while unemployment rose to a record high.

However, given the risks tied to this week's FED and ECB meetings along with US jobs data, EUR/USD remained inside its recent range. Meanwhile the Cable was nearly flat, while the dollar weakened against the yen. European markets were mixed while US stock futures were largely unchanged.

Main Headlines in Europe (in chronological order):

Germany: Annual Retail Sales drop 2.8% in March

Germany: Gfk Consumer Confidence Survey rises against expectations in May

Germany: Unemployment Change at 4K in April

EMU: Unemployment Rate hits new high in March

EMU: Annual inflation down to 1.2% in April

Letta to discuss his growth program with Merkel today

European Morning Fundamental Wrap: Attention goes to Italy and Cyprus

Germany and Scandies up, France and peripherals down as month ends

Euro on autopilot between 1.30-1.31