07:47 AM EDT, 08/28/2024 (MT Newswires) -- The euro (EUR) has faded throughout the Wednesday session, getting little push from a couple of second-tier data releases, said Scotiabank.

Eurozone adjusted private sector credit accelerated to 1.3% y/y in July from 1.1% y/y in June, while France's consumer confidence rose 1 pt to 92 in August. While the latter was the best print since February 2022, French sentiment has wavered in a fairly tight range since the start of the year.

The long, drawn-out process to choose a French prime minister certainly isn't encouraging in lifting the economy, particularly as talks appear to have broken down between President Emmanuel Macron and his left-wing counterparts, sated Scotiabank.

Meantime, the Sept. 20 deadline to submit a medium-term fiscal-structural plan to the European Commission (stemming from the Excessive Deficit Procedure) is drawing near, pointed out the bank.