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    Eurozone unemployment ticks down in November, sentiment improves in December

    The Eurozone economic sentiment survey results for December and unemployment figures and retail sales for November were released on Thursday. Soon after these reports, the euro was little changed against its major counterparts but held gains near the highs of the session.

    Earlier, German retail sales data were released, showing a rise of 0.2% month-over-month in November from a 0.1% decline the prior month.

    The Eurozone unemployment rate showed a small drop in November, falling for the third straight month. The figure unexpectedly fell to 10.5% from a revised 10.6% in October (previously 10.7%). This is the lowest rate area since October 2011 and represents 16.924 million people without a job in the euro area. Economists had forecast a 10.7% figure in the reported period.

    Meanwhile, there was a bright spot in Italy which had the lowest unemployment rate since 2013, as it fell in November down to 11.3% from 11.5% seen previously.

    Eurozone retail sales data disappointed with a drop of 0.3% month-over-month.

    Ahead of the Eurozone data, the euro rose against its major counterparts driven primarily by the risk aversion coming from China.

    Against the dollar, the euro reached a high of 1.0868 before slightly easing lower after the Eurozone data. The single currency traded to a high at 0.7458 against the pound, and 127.67 against the yen.

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