Eurozone Retail Sales rise 1.9% YoY in December, as expected

Eurozone annual Retail Sales rose 1.9% in December.
Retail Sales in the old continent arrived at -0.2% MoM in December.

Dhwani Mehta FXStreet

Eurozone’s Retail Sales rose 1.9% in the year through December after increasing by a revised 1.6% in November, the official data released by Eurostat showed on Thursday. The data aligned with the market expectations.

On a monthly basis, Retail Sales in the old continent declined by 0.2% in the same period versus November’s 0% revision while coming in below the estimated -0.1% drop.

FX implications

The Eurozone data fails to lift the Euro. At the time of writing, the EUR/USD pair is trading 0.40% lower on the day at 1.0361.

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.

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold bounces off $4,425 on US Dollar pullback

Gold recovers slightly from a one-and-a-half-week low near $4,425 in the Asian session on Monday, though any meaningful recovery seems elusive. Fed Chair Kevin Warsh’s Jackson Hole speech was perceived as hawkish, raising expectations for a September rate hike. Adding to this, fresh US strikes on Iran act as a tailwind for the safe-haven US Dollar and should cap the bullion.

Week ahead: RBNZ and BoC decide on rates ahead of all-important US NFP

The US dollar staged a modest recovery this week, perhaps as traders decided to cover some of their short positions amid slightly stickier or in-line US PCE inflation numbers for July, confounding expectations of softer prints amid the softness revealed in the CPI data for the month.

US Dollar Weekly Forecast: Focus is back on 100.00 as Fed hawks take centre stage

It has already been a positive week for the US Dollar, but a hawkish speech from Chair Kevin Warsh at the Jackson Hole Symposium may have laid the groundwork for a more sustained rebound in the Buck.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.