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.

Dhwani Mehta FXStreet

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.

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.

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