Euro weakens on GfK and PMI numbers, at one-week low vs dollar, one-month low against pound

Euro has stumbled on a series of data on Thursday and hit a one-week low against the dollar and its lowest in more than a month versus Sterling.

EUR/USD fell to 1.0666, its lowest since 16 April, and compared to the previous close of 1.0725. EUR/GBP slumped to 0.7116 its lowest since 16 March and down from Wednesday's close of 0.7133.

The survey by market researcher GfK showed that consumer confidence in Germany trailed market expectations for the month of April. The index rose to 10.1 from 10.0 in March but the consensus was for 10.2. The willingness to buy, meanwhile, has fallen.

The GfK index that measures willingness to buy has fallen for the first time in six months, by 4.7 points to 58.3.

Data from Markit later in the day showed weaker than expected performance of Germany's services and manufacturing sector in April.

The services PMI fell to 54.4 from 55.4 when the consensus was for 55.5, and the manufacturing PMI dropped to 51.9 from 52.8 against the expectations of a rise to 53.0. The composite index thus fell to 54.2 from 55.4.

Data from Spain showed further weakening of the labour market there. The unemployment rate rose to 23.78% for the first quarter from 23.7% in the previous quarter while analysts had been expecting a drop to 23.6%.

The services PMI for France fell to 50.2 for April from 52.4 in March against market expectations of an increase to 52.5 and the manufacturing PMI fell to 48.4 from 48.8 disappointing the market that had been waiting for an increase to 49.3. The composite PMI therefore fell to 50.2 from 51.5.