Eurozone Retail Sales jump 1.3% YoY in June vs. -0.5% expected, EUR/USD tests highs
|- Eurozone Retail Sales jumped 5.7% MoM in June vs. +5.9% expected.
- Retail Sales arrived at +1.3% YoY in June vs. -0.5% expected.
Eurozone’s Retail Sales arrived at +5.7% MoM in June versus +5.9% expected and +17.8% last, the latest data from the Eurostat showed on Wednesday.
On an annualized basis, the bloc’s Retail Sales came in at +1.3% in June versus -5.1% seen in May and -0.5% expected.
more to come ...
About Eurozone Retail Sales
The Retail Sales released by the 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.
FX implications
EUR/USD challenges highs near 1.1840 on the mixed Eurozone retail trade data. The further advance in the major is mainly driven by the fresh leg lower in the US dollar across its main peers.
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