EUR/USD is showing little real change in early European trading with activity being confined to a relatively narrow range, the pairing presently around 1.2840. Earlier we had the release of a couple of weak pieces of euro-zone economic data. German retail sales, adjusted for seasonal swings, fell 0.2% month on month and by 0.3% year on year in December. These numbers were weaker than expected, the median forecasts looking for a rise by 0.5% month on month and by 0.7% year on year. Meanwhile Spains’ January jobless rose 198,838 or 6.3% to 3.18 mln, the 10th straight month of increase.