Macro Trades: EUR/USD [Video]
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The European Single Currency depreciated against the US Dollar, following the US Retail Sales data released on Friday at 13:30 GMT. The EUR/USD exchange currency rate lost 14 pips or 0.12% during a minute, right after the release. The European single currency continued trading at the 1.1275 area against the US Dollar.
The Census Bureau released US Retail Sales data that came out better than expected of 0.2%, compare to forecasted 0.1%. Note, that the US Core Retail Sales was released at the same time with the US Retail Sales.
Andrew Hunter, the senior U.S. Economist at Capital Economics said, "Along with the continued strength of the labor market, the boost to real incomes from the recent plunge in gasoline prices appears to be providing a big support to spending growth, which could continue for a few more months,".
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