German Retail Sales drop 1.6% MoM in June vs. -3.3% expected, EUR/USD stays below 1.19

German Retail Sales dropped 1.6% MoM in June vs. -3.3% expected.

Dhwani Mehta FXStreet

Retail Sales jumped 5.9% YoY in June vs. +3% expected.

According to the latest data reported by Germany’s Destatis on Friday, the country’s Retail Sales arrived at 1.6% MoM in June versus -3.3% expected and +12.7% last.

On an annualized basis, the German Retail Sales came in at +5.9% in June versus +3.2% seen in May and +3.0% 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 below 1.1900, as the shared currency ignores update German Retail Sales data.

At the time of writing, the major rises 0.30% to trade at 1.1881

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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