Eurozone Data

European Central Bank President Christine Lagarde warned in the ECB's final press conference of the year that "a relatively short-lived and shallow" technical recession may be seen in the months ahead due to a growing collection of economic ailments stemming from the energy crisis. 

The Euro-to-Dollar exchange rate reached month highs and was looking to reclaim 1.19 in the final session of the week after data from Eurostat suggested expectations of the Eurozone economy may have become too downbeat following a turbulent start to the current year.

The Euro was in retreat from close to three-year highs against a steadier Dollar on Thursday after inflation and retail sales figures from the Eurozone disappointed the market, while investors weighed a shifting U.S. political landscape and disorder in Washington.