EU: Retail Sales increase by 1.5% in October vs. 0.8% expected

Retail Sales in the euro area rose more than expected in October.
EUR/USD trades flat a little above 1.2100 after the data.

Eren Sengezer FXStreet

Retail Sales both in the euro area and the European Union increased by 1.5% on a monthly basis in October, the data published by the Eurostat showed on Thursday. This reading followed September's contraction of 1.7% (revised from 2%) and beat the market expectation of +0.8%.

"In the euro area in October 2020, compared with September 2020, the volume of retail trade increased by 2.0% for both non-food products and for food, drinks and tobacco, while automotive fuels fell by 3.7%," the publication further revealed. "In the EU, the volume of retail trade increased by 2.0% for non-food products and by 1.9% for food, drinks and tobacco while automotive fuels fell by 3.4%."

Market reaction

The EUR/USD pair showed no immediate reaction to this report and was last seen trading flat on the day at 1.2112.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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