German Retail Sales drop 5.3% MoM in April vs. -12% expected, EUR/USD keeps 1.11
by Dhwani Mehta- German Retail Sales dropped 5.3% MoM in Mar vs. -12.0% expected.
- Retail Sales dived 6.5% YoY in Mar vs. -14.3% expected.
According to the latest data reported by Germany’s Destatis on Friday, the country’s Retail Sales arrived at -5.3% MoM in April versus -12.0% expected and -4.0% last.
On an annualized basis, the German Retail Sales came in at -6.5% in April versus -1.2% seen in March and -14.3% expected.
About German Retail Sales
The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
FX implications
EUR/USD keeps its range close to two-month highs of 1.1111 following the release of the upbeat German Retail Sales data for April.
At the time of writing, the major gains 0.26% to trade at 1.1104.