Euro area Retail Sales surge by 2% in December vs. 1.6% expected
|- Retail Sales in euro area and EU rose sharply in December.
- EUR/USD continues to push lower below 1.2000 despite the strong data.
Retail Sales in the euro area rose by 2% on a monthly basis in December, the data published by the Eurostat showed on Thursday. This reading followed November's contraction of 5.7% and came in better than the market expectation of 1.6%. On a yearly basis, Retail Sales increased by 0.6% in 2020.
Further details of the publication revealed that Retail Sales in the European Union expanded by 1.4% in December.
"In the euro area in December 2020, compared with November 2020, the volume of retail trade increased by 5.1% for automotive fuels, by 1.9% for food, drinks and tobacco and by 1.5% for non-food products," the press release read.
Market reaction
The EUR/USD pair extended its daily slide despite the upbeat data and was last seen losing 0.42% on a daily basis at 1.1984.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.