Eurozone Retail Sales drop 0.3% YoY in June vs. +0.1% expected
- Eurozone Retail Sales fell 0.3% YoY in June vs. +0.1% estimate.
- Retail Sales in the bloc arrived at -0.3% MoM in June vs. -0.1% forecast.
Eurozone’s Retail Sales dropped at an annual rate of 0.3% in June after increasing by 0.5% in May, the official data released by Eurostat showed on Tuesday. The data missed the market consensus of +0.1%.
On a monthly basis, Retail Sales in the old continent declined by 0.3% in the same period vs. May’s +0.1% and -0.1% expected.
FX implications
The downbeat Eurozone data keeps the Euro under moderate heavy selling pressure. At the time of writing, the EUR/USD pair is trading 0.28% lower on the day at 1.0920.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
