The Pound Euro (GBP/EUR) exchange rate is edging lower, below €1.16, paring small gains from the previous session.

Signs of the UK economy sparking back into life supported the Pound on Thursday.

Today attention is on UK retail sales which analysts expect the reveal a 4.5% MoM rise in April as consumers return to physical stores. This follows on from a 5.4% monthly rise in March.

PMI data for both the Eurozone and the UK will be in focus.

In the Eurozone last month business activity picked up into expansionary territory, despite the ongoing lockdown on the old continent.

With covid cases easing business activity is expected to have picked up further.