• EUR/USD continues to decline as the Euro deflates.
• Fiber found a 57-week low as the Greenback continues to climb.
• US Retail Sales in the barrel for Friday will wrap up the economic calendar.

EUR/USD briefly tested fresh year-long lows on Thursday, piercing the 1.0500 handle for the first time in 54 weeks. A lack of meaningful EU data is doing very little to provide support for the Euro, and Fiber bids continue to tilt in favor of the safe haven US Dollar. European Gross Domestic Product (GDP) growth figures failed to spark a bid under the Euro, printing exactly at-expectations. Quarterly pan-EU GDP came in at 0.4% QoQ exactly as markets expected, with annualized GDP also matching forecasts at 0.9% YoY.

Producer Price Index (PPI) producer-level inflation figures came in roughly as expected, despite a slight upswing in annualized core PPI numbers. Headline PPI matched forecasts in October, rising 0.2% MoM compared to the previous month’s revised 0.1%. Core PPI for the year ended in October accelerated more than expected, ticking up to 3.1% compared to the expected 3.0% rising above the previous period’s 2.9%, which was also revised slightly higher from 2.8%.

The economic calendar is once again one-sided on Friday, with US Retail Sales in the barrel to wrap up the trading week. The last blast of US economic data this week will be Retail Sales for October, which are expected to ease to 0.3% from the previous month’s 0.4%.