Mario Draghi was right in keeping inflation expectations low

Eurozone unemployment rate dropped to 9.1% in June

Eurozone unemployment rate dropped to 9.1% in June

The dollar was set to fall 1.9 percent against the yen to mark its biggest one-month percentage decline in six months.

- Euro-Zone GDP growth climbed to 2.1% year/year in the second quarter, up from 1.9%.

The biggest downside risk from within the single currency area was Italy, Barclays added, which they still expected to hold elections in the first quarter of 2018.

Against this background, EUR/USD eased modestly after the numbers but this year's strong upward trend still shows no sign of faltering, even though momentum indicators suggest that it now overbought.

Quarterly growth edged up from 0.5 percent at the start of the year, while year on year growth leapt to 2.1 percent from 1.9 percent, according to official figures from Eurostat.

Hungarian GP: 'Scared, nervous, anxious' di Resta impresses on F1 return
Paul di Resta was thrown into the "deepest of deep ends" at the Hungarian Grand Prix on Saturday and emerged to universal acclaim. Paul Di Resta turned up to the Hungaroring on Saturday morning, expecting to be in the Sky Sports commentary box.

Euro zone economic sentiment rose for a third straight month in July to a new 10-year high, largely because of a pick-up in services firms and across all sectors. Any good data from the Eurozone is likely to make the process of tapering easy and also push the European Central Bank towards the same, much quicker than anticipated, and this is something that the market hates.

The ECB targets inflation of "just below 2 percent". UniCredit on Thursday raised its forecast for the euro-dollar rate to $1.20 for the end of the year and an "equilibrium" rate of $1.25 for end-2018, from $1.14 and $1.18 respectively before. That's in line with the median estimate in a Bloomberg survey of economists.

Outside Europe, U.S. monthly jobs data for July on Friday is likely to be the key figure for economists and the Federal Reserve, whose policy-setters next meet on September 19-20. Meanwhile, in Spain - where unemployment affects a larger number of people - the rate registered at 17.1 percent, down from 17.3 percent in May.

Meanwhile, the EU28 unemployment rate was 7.7% in June, down from 8.6% in the same time past year.

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