German Retail Sales drop 5.3% MoM in April vs. -12% expected, EUR/USD keeps 1.11
|- 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.
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.