Eurozone Retail Sales jump 12% YoY in March vs. 9.6% expected, EUR/USD unfazed
|- Eurozone Retail Sales increased by 2.7% MoM in March vs. +1.5% expected.
- Retail Sales jumped 12% YoY in March vs. 9.6% expected.
Eurozone’s Retail Sales rose by 2.7% MoM in March versus 1.5% expected and 4.2% last, the official figures released by Eurostat showed on Thursday.
On an annualized basis, the Eurozone Retail Sales surged by 12% in March versus 9.6% seen in February and -1.5% expected.
FX implications
The euro fails to receive a fresh boost from stronger Eurozone Retail Sales data.
At the time of writing, the major trades at 1.2037, off the daily highs of 1.2045, still up 0.27% on the day.
About Eurozone Retail Sales
The Retail Sales released by Eurostat is a measure of changes in sales of the Eurozone 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. Usually, the positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
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